HDFC Mutual Fund launched the HDFC FMP 1434D May 2018 (1), a close ended income scheme. The NFO opens for subscription on May 04, 2018 and closes on May 08, 2018. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000.
The scheme's performance for plans having maturity up to 91 Days will be benchmarked against Crisil Liquid Fund Index, for plans having maturity more than 91 Days and up to 36 months will be benchmarked against Crisil Short Term Bond Fund Index and for plans having maturity more than 36 months will be benchmarked against Crisil Composite Bond Fund Index and its fund managers are Anil Bamboli and Rakesh Vyas.
The investment objective of the scheme is to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).