HDFC Mutual Fund has filed an offer document for HDFC Fixed Maturity Plans - Series VIII. Its a closed ended income scheme with no assured returns. The new fund offer (NFO) price for the scheme is Rs. 10 per unit. A closed ended income scheme offering a series of plans of various maturities up to 370 days from the date of allotment.HDFC Fixed Maturity Plans - Series VIII is a closed ended income scheme comprising there under several investment plans.
Each HDFC Fixed Maturity Plan offers:
Wholesale Plan (with Growth and Dividend Option)
Retail Plan (with Growth and Dividend Option).
Dividend Option under 90 Days Plans and 181 Days Plans offers Normal Dividend Option and Dividend Option under 370 Days Plans offers Quarterly Dividend Option and Normal Dividend Option. Quarterly Dividend Option and Normal Dividend Option offers Dividend Payout facility only. Each HDFC Fixed Maturity Plan will be managed as a separate portfolio having common portfolio for both Retail and Wholesale Plans.
Each HDFC Fixed Maturity Plan will be managed as a separate portfolio having common portfolio for both Retail and Wholesale Plans.
The minimum investment amount under retail plan is Rs. 5,000 and in multiple of Re 1 thereafter. The minimum investment amount under wholesale plan is Rs 1 crore and in multiples of Re 1 thereafter.
The investment objective of the Plans under the Scheme is to generate regular income through investments in Debt / Money Market Instruments and Government Securities.
Entry Load: The Scheme, being a close-ended scheme, is not permitted to charge Entry Load.
Exit Load:
In respect of each purchase / switch-in of units of 90 Days Plan and 181 Days Plan, an exit load 0.75% is payable if units are redeemed / switched-out before Maturity Date / final redemption date.
In respect of each purchase / switch-in of units of 370 Days Plan, an exit load of 1.50% is payable if units are redeemed / switched-out before Maturity Date / Final Redemption Date.
No Exit Load is payable on the Maturity / Final Redemption Date of respective Plan.
The mutual fund seeks to raise a minimum subscription amount of Rs.1 crore during the NFO period of the respective HDFC Fixed Maturity Plan and would retain any excess subscription collected.
The Benchmark Index for the Scheme would be Crisil Liquid Fund Index for Plans having maturity up to 12 months from the date of allotment and Crisil Short-Term Bond Fund Index for plans having maturity more than 12 months but up to 370 days from the date of allotment.
Fund manager of the scheme is Mr. Shobhit Mehrotra
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