HDFC MF launches “HDFC FMP 1116D JULY 2014(1)”; NFO to close on August 11
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31 Jul 2014
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| HDFC Mutual Fund has launched a new close ended income scheme named “HDFC FMP 1116D JULY 2014(1)” with maturity period of 1116 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on August 11. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth and Dividend payout option. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index. Shobhit Mehrotra and Rakesh Vyas will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in investments in debt / money market instruments and government securities. Hence, the scheme will allocate 80 to 100 per cent of asset in government securities & debt instruments and 0 to 20 per cent of asset in money market instruments. |
Source: Dion Global Type: Mutual Fund Review
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