HDFC MF launches 24 months FMP

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HDFC MF launches 24 months FMP
HDFC Mutual Fund has launched a new fund offer named as HDFC Fixed Maturity Plan 24 Months September 2011 (1), under HDFC Fixed Maturity Plans - Series XIX. It’s a close-ended income scheme with duration of 24 months from the date of allotment.

Investment objective:
The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan.

The fund seeks to collect a minimum subscription amount of Rs 1 crore under the scheme during the NFO period.

The scheme would invest 80% to 100% of assets in debt & money market instruments including securitized debt with medium risk profile. The scheme may invest up to 20% of net assets in money market instruments and government securities with medium risk profile.

Basic Details:
NFO Opens: September 30, 2011
NFO Closes: October 11, 2011
NFO Price: Rs.10 per unit
Options: Dividend Payout and Growth option
Minimum Application Amount: Rs 5,000 per application and additional Rs 10, thereafter
Exit Load: Nil
Benchmark: CRISIL Short Term Bond Fund Index
Fund Managers: Mr. Bharat Pareek and Mr. Miten Lathia

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Read more about: mutual funds, debt nfo, fmp
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