HSBC Mutual Fund has informed that it has raised Rs 108 crore through HSBC Fixed Term Series 61 during its initial offer period. HSBC Fixed Term Series 61 is a close-ended income scheme. The issue opened for subscription on 17 July and closed on 23 July 2008.

The investment objective of the scheme is to seek decent returns by investing in a portfolio of fixed income instruments normally maturing in line with the time profile of the plan. The scheme may invest up to 100% in money market instruments including CBLO and reverse repo.

The performance of the scheme will be benchmarked against the CRISIL Liquid Fund Index. The maturity date of the scheme would be 1 year from the date of allotment.

The fund manager for the scheme is Mr. Alok Sahoo and Mr. Suyash Choudhary.