HDFC MF Rolls Out New Fund

HDFC Mutual Fund has rolled out an open-ended scheme HDFC quarterly interval fund - Plan A. The new fund offer opens Apr. 2, 2007 and closes Apr. 30, 2007. The offer price is Rs 10. The scheme targets generating regular income through investments in debt, money market instruments and government securities. HDFC quarterly interval fund offers wholesale plan and retail plan (with growth and dividend option). The minimum application amount under retail plan is Rs 5,000 and in multiple of Re 1 thereafter. On the other hand, in wholesale plan this amount is Rs 1 crore and in multiples of Re 1 thereafter an application. There is no entry load but there is an exit load of 0.75% if the units are redeemed on any day other than the specified transaction period (STP) and there is no exit load if the units are redeemed during STP.