HDFC Mutual Fund has launched the HDFC Charity Fund For Cancer Cure, a close ended income scheme. The NFO opens for subscription on March 10, 2017 and closes on March 27, 2017. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 50,000 and in multiples of Rs 1, 000 thereafter per application for each Plan under the Scheme.
The scheme’s performance for Arbitrage Plan will be benchmarked against NIFTY 50 Arbitrage Index and for Debt Plan will be benchmarked against Crisil Short Term Bond Fund Index and its fund managers are Krishan Kumar Daga for Arbitrage Plan, Anil Bamboli for Debt Plan and Rakesh Vyas for Overseas Investments.
The investment objective of the scheme is to generate income through arbitrage opportunities between cash and derivative market and through investments in debt and money market instruments for Arbitrage Plan and to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the Plan for Debt Plan.