HDFC MF launches "HDFC FMP 372D February 2014 (1)"; NFO to close on Feb 3

HDFC MF launches
HDFC Mutual Fund has launched a new close ended income scheme named "HDFC FMP 372D February 2014 (1)" with maturity period of 372 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 close on February 3.

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 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. Rakesh Vyas and Anil Bamboli will be the Fund Manager 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. Hence, the scheme will allocate 60 to 100 per cent of asset in debt instruments and money market instruments and 0 to 40 per cent in government securities.

Dion Global Solutions Ltd.

Read more about: mutual funds, hdfc mf, nfo
Story first published: Monday, February 3, 2014, 12:50 [IST]
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