MASTER MIND FINNASSET: HDFC Rajiv Gandhi Equity Savings Scheme files offer document with Sebi

Sunday, January 27, 2013

HDFC Rajiv Gandhi Equity Savings Scheme files offer document with Sebi

A Close Ended Equity Scheme

HDFC Mutual Fund has filed offer document with Sebi to launch HDFC Rajiv Gandhi Equity Savings Scheme, a close-ended equity scheme investing in eligible securities as per Rajiv Gandhi Equity Savings Scheme, 2012. The New Fund Offer price is Rs 10 per unit. The Scheme offers 4 series having a term/duration of 3 years from the date of allotment of Units.

Investment objective: To generate long term capital appreciation from a portfolio of Eligible Securities as specified in Rajiv Gandhi Equity Savings Scheme.

Tax Benefit under Section 80CCG: As per Section 80CCG of the Income-tax Act, 1961, investments made by 'New Retail Investor' in this Scheme will qualify for a 50% deduction of the actual amount invested from the taxable income of the financial year. The maximum investment permissible for claiming deduction in a financial year is Rs. 50,000.

Options: The respective Series under the Scheme offers Regular Plan and Direct Plan. Both Regular Plan and Direct Plan offer Growth Option and Dividend Payout Option.

Benchmark: BSE 100 Index

Loads: Entry and exit load not applicable

Minimum Application Amount: The minimum amount for application (Purchase / Switch-in) during the NFO period of the respective Series is Rs. 500 and in multiple of Rs. 10 thereafter .
Minimum Target Amount: Rs. 1 crore each Series of the Scheme

Asset Allocation: The scheme shall invest 90-100% in Equity securities specified as Eligible Securities for RGESS and up to 10% in Cash & cash equivalents (Cash & Cash Equivalent would mean cash (bank balance) or overnight investment in CBLO, reverse repo) and Money Market Medium Instruments.

Fund Manager: Mr. Srinivas Rao Ravuri

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