Sebi has warned the board of trustees of HSBC mutual fund,HSBC asset management company and its chief executive officer to strictly comply with the law governing their conduct and business of mutual funds in the securities market.
This pertains to the changes made in the features and benchmark of the HSBC Gilt Fund. The fund was launched in 2003,but Sebi says the unitholders were not informed of the changes made in the modified duration in 2009.
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