HDFC MF launches 90 Days Plan

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Updated: 24/09/2008 | 12:00 AM IST

Mutual fund

Capital Market

Wednesday, September 24, 2008 (New Delhi)

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HDFC Mutual Fund house has commenced initial offering period of HDFC Fixed Maturity Plan 90 Days September 2008 (4) under HDFC Fixed Maturity Plans-Series VIII. The new offer period (NFO) will be open for subscription on 26 September and close for subscription on 01 October 2008. The face value of new issue is Rs 10 per unit.

HDFC FMP 90 Days September 2008 (4) is a close ended income scheme. The investment objective of the fund is to generate regular income through investments in debt, money market instruments and government securities.

HDFC Fixed Maturity Plan 90 Days September 2008 (4) 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 Re. 1 thereafter. Under wholesale plan, the minimum investment amount is Rs. 1 crore and in multiples of Re. 1 thereafter.

The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The scheme will also invest 0%-40% in government securities with low risk profile. Investment in securitised debt will not exceed 75% of the net assets of the respective plans.

HDFC 90 Days plan will not levy entry load charged due to its close-ended structure. It may charge 0.75% an exit load if the units are redeemed or switched out before maturity.

The benchmark Index for the scheme would be Crisil Liquid Fund Index.

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