HDFC Mutual Funds FMP 1372D September 2018 (1) scheme, a close-ended income scheme, will be open for subscription from September 26, 2018, to September 27, 2018. The face value of the NFO (New Fund Offer) will be 10 Rupees per unit.
The HDFC Fixed Maturity Plan 1372D September 2018 (1) scheme is a plan under HDFC Fixed Maturity Plans – Series 42. The new scheme has a maturity period of 1372 days from the date of allocation of the units.
The investment aim of the new HDFC Mutual Fund plan is to produce income by investing in debt securities or money market securities and in government instruments maturing on or before the maturity period of the scheme.
The new close-ended income scheme of HDFC AMC offers three options – Growth option, Dividend option and Quarterly Dividend option.
HDFC Mutual Funds FMP 1372D September 2018 (1) scheme will invest 80 percent to 100 percent of assets in debt securities and government instruments with a medium risk profile. The FMP will further invest up to 20 percent of its assets in money market securities with a low-risk profile.
The minimum application amount of the HDFC Fixed Maturity Plan 1372D September 2018 (1) scheme is 5000 Rupees and in multiples of 10 Rupees thereafter. The new scheme aims to gather a minimum subscription or target amount of 20 crore Rupees during the New Fund Offer period.
The FMP is benchmarked against CRISIL Composite Bond Fund Index. The fund house has appointed Anupam Joshi as the fund manager of the HDFC Mutual Funds scheme, according to KJMC.
HDFC Mutual Fund announced the launch of HDFC FMP 1372D September 2018 (1) scheme under HDFC Fixed Maturity Plans – Series 4 and the NFO period in its notice dated September 17, 2018, according to information available in the official website of the fund house.
The notice also states that the investors of the HDFC Mutual Funds FMP 1372D September 2018 (1) scheme may note that the units of the plan will be listed on the Stock Exchange(s) as mentioned in the Scheme Information Document where they can purchase/ sell units continuously.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]