HDFC
Mutual Fund has launched two new plans named as HDFC FMP 1919D January
2013 (1) and HDFC FMP 462D January 2013 (1), fixed maturity plan under
HDFC Fixed Maturity Plans – Series 24 (close-ended income schemes). The
face value of the new issue will be Rs 10 per unit. The new issue
opening and closing dates are as follows:
|
Name of the Plan
|
NFO Opening Date
|
NFO Closing Date
|
|
HDFC FMP 1919D January 2013 (1)
|
3 January 2013
|
7 January 2013
|
|
HDFC FMP 462D January 2013 (1)
|
4 January 2013
|
8 January 2013
|
The
investment objective of the plans is to generate regular income through
investments in debt / money market instruments and government
securities maturing on or before the maturity date of the plans.
The plans shall offer three options – growth, dividend and flexi option
Asset Allocation:
For
Plans having tenure upto 36 months: The plans would invest 70% to 100%
of assets in debt securities with medium risk profile. The plans may
invest upto 30% of net assets in money market instruments and upto 30%
in government securities with low risk profile.
For
Plans having tenure above 36 months: The plans would invest 80% to 100%
of assets in debt securities with medium risk profile. The plans may
invest upto 20% of net assets in money market instruments and upto 20%
in government securities with low risk profile.
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 20 crore under each plan during the NFO period.
Entry
and exit load charge will be nil for the plans. Units of the plans will
be listed on the Stock Exchange(s) where investors can purchase / sell
units on a continuous basis.
For
plans having maturity upto 36 months, the benchmark index is Crisil
Short Term Bond Fund Index and Crisil Composite Bond Fund Index for
plans having maturity more than 36 months.
The plans will be managed by Shobhit Mehrotra. Rakesh Vyas will be dedicated fund manager for overseas investments.