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Wednesday, February 18, 2009

HDFC MF introduces the Flexindex Plan for unit holders of debt and liquid schemes

With effect from 25 February 2009

HDFC Mutual Fund has introduced the new plan namely HDFC Flexindex Plan with effect from 25 February 2009.

HDFC Flexindex Plan is a facility provided to unit holder(s) of select debt/ liquid schemes of HDFC Mutual Fund (Source Scheme(s)) to automatically transfer the specified percentage of the amount registered in the source scheme to select equity schemes of HDFC Mutual Fund (Target Scheme(s)) on the trigger dates occurring during the period of 1 year from the date of registration.

Unit holders of the Source Scheme have to set triggers based on the predetermined event. For the purpose of this plan, predetermined event means the reaching or crossing of closing index (i.e., BSE SENSEX) level(s) as specified by the unit holder.

Unit holders under the plan are offered twin enrolment options viz. Flexible Instalment option and Fixed Instalment option. Under Flexible instalment option the minimum percentage to be indicated against each index level trigger is 10% and in multiples of 1% thereafter and under fixed installment option the percentage indicated against each index level trigger is fixed at 25%. The cumulative percentage under each option will be equal to 100.

On the trigger date, the specified percentage of the amount registered will be automatically transferred in the target scheme by creation of units in the target scheme at the closing NAV of the same day i.e., the trigger date. Once a transaction is processed, the same will not be reversed and it will be final and binding upon the unit holder.

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