HSBC Global Asset Management India launches a new fund of funds product that caters to different investor risk appetites.

HSBC Global Asset Management India, the local asset management subsidiary of London-headquartered banking giant HSBC, has launched a new fund that will invest in various asset classes, including gold. 

HSBC Managed Solutions is an open-ended fund of funds scheme that will seek return from domestic and offshore equity, long and short-term debt and gold. It is designed to suit different investor risk profiles and is offered in growth, moderate and conservative options, according to a statement. 

It will be managed locally by Sanjay Shah, Gaurav Mehrotra and Piyush Harlalka.

"This active asset allocation based solution helps contain portfolio volatility and positions it well to deliver better risk-adjusted returns over the long term. HSBC Managed Solutions builds in regular rebalancing as a core feature which helps the portfolio remain aligned to the needs of the investor," said Tushar Pradhan, chief investment officer of HSBC Global AM in India.

The fund offer opened in 9 April and will close on 23 April 2014. The minimum investment amount is Rs5,000 (approx $85).