HDFC MF launches two fixed maturity plans

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HDFC MF launches two fixed maturity plans
HDFC Mutual Fund has launched two new schemes named as HDFC FMP 370D December 2011 (1) and HDFC FMP 92D December 2011 (1). Both are close-ended income schemes. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.

Important dates for the two FMPs are:
HDFC FMP 370D December 2011 (1): The NFO opens on December 9, 2011 and closes on December 13, 2011. The scheme has a duration of 370 days.

HDFC FMP 92D December 2011 (1): The NFO opens on December 9, 2011 and closes on December 14, 2011. The scheme has a duration of 92 days.

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

The plans would invest 60% to 100% of assets in debt & money market instruments with low to medium risk profile. The plans may invest upto 40% of net assets in government securities with low risk profile.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under each plan during the NFO period.

Other information:
Minimum Application Amount: Rs 5,000 per application and additional Rs 10, thereafter
Options: Dividend Payout and Growth option
Exit Load: Nil
Listing: National Stock Exchange
Benchmark: Crisil Short Term Bond Fund Index
Fund Manager: Mr. Bharat Pareek

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