Date:01/12/2008 URL: http://www.thehindu.com/2008/12/01/stories/2008120156091500.htm

Business

HDFC MF launches FMP Series X

HDFC Mutual Fund has launched Fixed Maturity Plans – Series X, a close ended income scheme.

The new fund offer, which opened on November 27, closes on December 1. The scheme will re-open for repurchase within 30 days from the date of allotment.

Objective

The investment objective is to generate regular income through investments in debt, money market instruments and government securities.

The scheme offers Wholesale Plan and Retail Plan with growth and dividend options. Dividend Option offers normal dividend option with payout facility only.

The minimum amount for Wholesale Plan is Rs. 1,00,00,000 and in multiples of Re. 1 thereafter.

The minimum amount for Retail Plan is Rs. 5,000 and in multiples of Re. 1 thereafter.

There is no entry load for the new fund offer. In respect of each purchase / switch-in of units, an exit load of one per cent is payable if units are redeemed/switched-out before maturity / final redemption date.

No exit load is payable on maturity / final redemption date of the plan.