New Delhi: HDFC Mutual Fund will launch the HDFC Fixed Maturity Plan 370 Days September 2008 (1) under HDFC Fixed Maturity Plans-Series IX on 16 September 2008. The initial offer period will close for fresh subscription on 22 September 2008. The offer price of the unit is Rs 10 per unit. HDFC Fixed Maturity Plans 370 Days September 2008 (1) is of close-ended income nature with an aim of generating regular income through investments in debt, money market instruments, and government securities. The 370 Days Fund will offer wholesale plan and retail plan with growth and dividend option.
The minimum investment 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 multiple of Re 1 thereafter. The Fund seeks to raise a minimum subscription amount of Rs.1 crore during the New Fund Offer period. The scheme will invest 60%-100% in debt and money market instruments, with low to medium risk profile. The schemes will also invest 0%-40% in government securities with low risk profile. Investment in securitised debt will not exceed 75% of the net assets of the respective plans. Under normal circumstances, the plans shall not have an exposure of more than 75% of its net assets in foreign debt securities subject to regulatory limits.
The schemes may enter into repos/reverse repos as may be permitted by the RBI. From time to time the respective plan may hold cash. A part of the net assets may be invested in the Collaterilsed Borrowing & Lending Obligations (CBLO) or repo or in an alternative investment as may be provided by the RBI to meet the liquidity requirements
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