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HDFC MF launches 24 months FMP

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HDFC MF launches 24 months FMP
HDFC Mutual Fund has launched a new fund offer named as HDFC Fixed Maturity Plan 24 Months September 2011 (1), under HDFC Fixed Maturity Plans - Series XIX. It’s a close-ended income scheme with duration of 24 months from the date of allotment.

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 amount of Rs 1 crore under the scheme during the NFO period.

The scheme would invest 80% to 100% of assets in debt & money market instruments including securitized debt with medium risk profile. The scheme may invest up to 20% of net assets in money market instruments and government securities with medium risk profile.

Basic Details:

NFO Opens: September 30, 2011

NFO Closes: October 11, 2011

NFO Price: Rs.10 per unit

Options: Dividend Payout and Growth option

Minimum Application Amount: Rs 5,000 per application and additional Rs 10, thereafter

Exit Load: Nil

Benchmark: CRISIL Short Term Bond Fund Index

Fund Managers: Mr. Bharat Pareek and Mr. Miten Lathia

GoodReturns.in

Read more about: mutual funds debt nfo fmp
Story first published: Friday, September 30, 2011, 16:37 [IST]
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