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HDFC FMP 1095D March 2014 (1) Floats On

Date : 11 Mar 2014-12:21Mutual Fund News

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1095D March 2014 (1), a plan under HDFC Fixed Maturity Plans - Series 29 (a close-ended income scheme). The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 14 March to 24 March 2014.

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 plan shall offer two options - growth, dividend and flexi option.

The plan would invest 80% to 100% of assets in debt instruments with medium risk profile, invest upto 20% in money market instruments and invest upto 20% in government securities with low risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

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

Entry and exit load charge will be nil for the plan.

Benchmark Index for the plan is CRISIL Composite Bond Fund Index.

The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments).

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