HSBC Mutual Fund India has launched an open ended fund of funds scheme ‘HSBC Managed Solutions’, which will invest into various asset classes including domestic and foreign equity, long and short-term debt and gold.

As per the fund house, the new scheme is based on the principle of active asset allocation in which investments are managed dynamically across asset classes and re-balanced regularly to ensure optimal allocation for risk profiles.

The new fund offer, which opens today, will close for subscription on April 23, 2014, a company release said.

“HSBC Managed Solutions allows people who do not have the time and expertise to manage their own portfolios to benefit from flexible asset allocation executed by our global teams in a disciplined, risk-aware and cost effective approach, with the goal of capturing long-term growth,” Chief Executive Officer of HSBC Global Asset Management, India, Puneet Chaddha said.