HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 370D May 2014 (2), a plan under HDFC Fixed Maturity Plans - Series 31 (a close-ended income scheme). The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 19 May to 21 May 2014.
The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan.
The plan shall offer three options - growth, dividend and flexi option.
The plan would invest upto 100% of assets in debt instruments, money market instruments and government securities with low to medium 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 the plan during the NFO period.
Entry and exit load charge will be nil for the plan.
Benchmark Index for the plan is CRISIL Short Term Bond Fund Index.
The fund managers of the scheme are Shobhit Mehrotra & Rakesh Vyas (Dedicated fund manager for overseas investments).