New Close Ended Scheme launched by HDFC Mutual Fund
30/03/2015 10:37
HDFC Mutual Fund has launched a new close ended equity scheme named “HDFC Focused Equity Fund - Plan B” with maturity period of 1100 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 26 and will close on April 24.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option.
The performance of the scheme will be benchmarked against S&P BSE 100 Index. Srinivas Rao Ravuri will be the fund manager of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to generate long term capital appreciation will be met by investing in a portfolio of Eligible Securities as specified in Rajiv Gandhi Equity Savings Scheme. Hence, the scheme will allocate 95 to 100 per cent of asset in Equity securities specified as Eligible Securities for RGESS and 0 to 5 per cent of asset in Money Market Instruments and Liquid Schemes.
30/03/2015 10:37
HDFC Mutual Fund has launched a new close ended equity scheme named “HDFC Focused Equity Fund - Plan B” with maturity period of 1100 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 26 and will close on April 24.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option.
The performance of the scheme will be benchmarked against S&P BSE 100 Index. Srinivas Rao Ravuri will be the fund manager of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to generate long term capital appreciation will be met by investing in a portfolio of Eligible Securities as specified in Rajiv Gandhi Equity Savings Scheme. Hence, the scheme will allocate 95 to 100 per cent of asset in Equity securities specified as Eligible Securities for RGESS and 0 to 5 per cent of asset in Money Market Instruments and Liquid Schemes.
