HDFC Mutual Fund unveils 370 Days Fixed Maturity Plan

Mutual Funds

oi-Sneha

By Sneha B K

Published: Monday, May 7, 2012, 11:49 [IST]

HDFC Mutual Fund has launched a new plan named as HDFC FMP 370D May 2012 (1), fixed maturity plan under HDFC Fixed Maturity Plans - Series XXI (a close-ended income scheme).

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 20 crore under the plan during the NFO period.

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

Basic Details:
NFO Price: Rs 10 per unit
NFO Opens: May 4, 2012
NFO Closes: May 8, 2012
Options: Growth and Dividend Payout
Benchmark: Crisil Short Term Bond Fund Index
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 thereafter.
Exit Load: NIL
Manager: Mr. Bharat Pareek.

GoodReturns.in