HDFC MF launches 92 Days FMP

HDFC MF launches 92 Days FMP
HDFC Mutual Fund has launched a new Fixed Maturity Plan (FMP), short-term investment plan named as HDFC Fixed Maturity Plan 92 Days November 2011 (2), under HDFC Fixed Maturity Plans - Series XIX. It's a close-ended income scheme with the duration of 92 days.

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 (minimum target) amount of Rs 1 crore under the scheme during the NFO period.

Allocation of Funds:
The scheme would invest 60% to 100% of assets in debt & money market instruments including securitized debt with low to medium risk profile. The scheme may invest up to 40% of net assets in money market instruments and government securities with low risk profile.

Basic Details:
NFO Opens: November 24, 2011
NFO Closes: November 29, 2011
NFO Price: Rs.10 per unit
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 5,000 per application and additional of Rs 10, thereafter
Exit Load: Nil
Benchmark: CRISIL Short Term Bond Fund Index
Fund Manager: Mr Bharat Pareek

(If you want to read a view about the HDFC FMP for 92 days, click here)

Read more about: mutual funds, nfo, fmp, hdfc
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