Mumbai: HDFC Asset Management Co Ltd will launch a close-ended debt fund on September 27.

The fund, HDFC FMP 18M September 2007, will be open for subscription till October 8.

It will invest at least 60 per cent of the assets in debt and money market instruments and the rest in government securities, the fund house said.

The fund will not charge any entry load but levy an exit load of 2 per cent for redemptions before maturity. It can levy initial issue expenses of up to 2 per cent of the amount collected.