HDFC MF launches "HDFC FMP 737D October 2013 (1)"; NFO to close on Oct 14

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HDFC Mutual Fund has launched a new close ended income scheme named "HDFC FMP 737D October 2013 (1)" with maturity period of 737 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 also close today.

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 5000 and in multiples of Rs 10 thereafter. The three options available under the Plan of the Scheme are Growth, Dividend and Flexi option.

The performance of the scheme will be benchmarked against Crisil Short Term 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 a portfolio of debt and money market instruments and government securities. Hence the scheme will allocate 70 to 100 per cent of asset in debt securities, 0 to 30 per cent in money market instruments and 0 to 30 per cent in government securities.

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Story first published: Monday, October 14, 2013, 13:00 [IST]
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