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Tuesday, February 24, 2009

HDFC MF unveils 14 months plan FMP

NFO period from 24 February – 24 March 2009

HDFC Mutual Fund house has launched HDFC Fixed Maturity Plan 14M February 2009 (1). The new offer period (NFO) is opened for subscription from 24 February and close for subscription on 24 March 2009. The face value of new issue is Rs 10 per unit.

It is a close ended income scheme. The investment objective of the scheme is to generate regular income through investments in debt, money market instruments and government securities.

HDFC Fixed Maturity Plan 14M February 2009 (1) offers wholesale plan and retail plan with growth and dividend option.

Under retail plan, the minimum application amount will be Rs. 5,000 and in multiples of Rs 10 thereafter. Under wholesale plan, the minimum investment amount is Rs. 25 lakh and in multiples of Rs 10 thereafter.

The FMP will not charge an entry and exit load. As the scheme is being listed, investors will not be able to redeem their units during the tenor of the Scheme and there will be redemption by the fund only on the maturity of the scheme.

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