HDFC MF Unveils 14 Months Plan (05-Mar-2010)
HDFC Mutual Fund has unveiled a new fixed term plan named as HDFC FMP 14M March 2010, under HDFC Fixed Maturity Plans - Series XII, 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 9 March and close on 17 March 2010.
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 duration of the plan is 14 months from the date of allotment.
The plan shall offer two options - Growth and Dividend Option. Dividend Option offers Quarterly Dividend Option and Normal Dividend Option with Payout facility only
The plan would invest 60% to 100% of assets in debt & money market instruments including securitized debt. Investments in securitized debt would be up to 75% of the net assets of the plan. The plan may invest up to 40% of net assets in government securities.
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 1 crore under the plan during the NFO period.
Entry and exit load charge will be nil for the plan. Units of HDFC FMP 14M March 2010 will be listed on the National Stock Exchange of India.
Benchmark Index for the plan is CRISIL Short Term Bond Fund Index.
Mr. Shobhit Mehrotra and Mr. Anand Laddha will manage the fixed term plan.
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