HDFC Medium Term Opportunities Fund files offer document with Sebi

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Updated: 05/11/2009 | 12:00 AM IST

Mutual fund

Capital Market

Thursday, November 05, 2009 (New Delhi)

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HDFC Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch HDFC Medium Term Opportunities Fund, open ended income scheme. The new fund offer (NFO) price for the scheme is Rs. 10 per unit.

The investment objective of the scheme is to generate regular income through investments in debt / money market instruments and government securities with maturities not exceeding 60 months.

The scheme shall offer growth and dividend option. Dividend option shall offers dividend payout and dividend re-investment as sub-options.

The scheme may invest 60% to 100% of asset in debt and money market instruments (including securitized debt), with low to medium risk profile. It would also invest 0% to 40% government securities with low risk profile. Investment in securitized debt shall not normally exceed 75% of the net assets of the scheme.

Entry load charge for the scheme is not applicable. In respect of each purchase / switch-in of units, an exit load charge of 2% is payable if units are redeemed / switched-out within 25 months from the date of allotment of units. No exit load charge is payable if units are redeemed / switched-out after 25 months from the date of allotment.

Minimum application amount for first time purchase will be Rs. 5000 and any amount thereafter and Rs. 1000 for additional purchases and any amount thereafter.

The minimum subscription (target) amount of Rs. 1 crore is expected to be raised during the NFO period.

The Scheme's performance will be benchmarked against CRISIL Short Term Bond Index.

The fund manager of the scheme will be Shobhit Mehrotra and Anand Laddha.

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