Date : Feb-25-2009
HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 13 Months March 2009 (1) under HDFC Fixed Maturity Plans-Series X. The NFO will open for subscription on March 3 and close for subscription on March 24, 2009. The face value of new issue is Rs 10 per unit.
It is a close-ended income scheme. The objective of the fund is to generate regular income through investments in debt as well as money market instruments and government securities. The scheme offers wholesale plan and retail plan with growth and dividend option.
The minimum application amount under the retail plan will be Rs. 5,000 and in multiples of Rs. 10 thereafter. On the other hand, the minimum investment amount is Rs. 25 lakh under the wholesale plan and in multiples of Rs. 10 thereafter. The scheme will invest 60%-100% in debt as well as money market instruments, with low to medium risk profile. The scheme will also invest up to 40% in government securities with low risk profile. The FMP will not charge an entry and exit load. As the scheme is being listed, the investors during the tenor of the Scheme will not be able to redeem their units and there will be redemption by the fund only on the maturity of the scheme.
HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 13 Months March 2009 (1) under HDFC Fixed Maturity Plans-Series X. The NFO will open for subscription on March 3 and close for subscription on March 24, 2009. The face value of new issue is Rs 10 per unit.
It is a close-ended income scheme. The objective of the fund is to generate regular income through investments in debt as well as money market instruments and government securities. The scheme offers wholesale plan and retail plan with growth and dividend option.
The minimum application amount under the retail plan will be Rs. 5,000 and in multiples of Rs. 10 thereafter. On the other hand, the minimum investment amount is Rs. 25 lakh under the wholesale plan and in multiples of Rs. 10 thereafter. The scheme will invest 60%-100% in debt as well as money market instruments, with low to medium risk profile. The scheme will also invest up to 40% in government securities with low risk profile. The FMP will not charge an entry and exit load. As the scheme is being listed, the investors during the tenor of the Scheme will not be able to redeem their units and there will be redemption by the fund only on the maturity of the scheme.
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