HDFC Mutual Fund has launched a new plan called HDFC
Fixed Investment Plan October 2003(I), a single plan
in the HDFC Fixed Investment Plan (HDFC FIP), a close-ended
issue opened on 13 October 2003 and will close on 20
October 2003. The maturity date/final redemption date
for the plan is 5 November 2004. The offer price during
the initial public offering is Rs 10 per unit.
primary objective of the scheme is to generate regular
income through investment in debt and money market securities.
The minimum application amount for HDFC FIP October
2003(I) is Rs 25,000 per application and in multiples
of Rs 1 thereof.
can obtain a copy of the offer document and abridged
offer document along with application form of HDFC FIP
from offices of HDFC AMC and its investor service centres.
The scheme does not have any entry load, but an exit
load of 1 per cent is applicable on redemptions / switches
made before the maturity dates.
exit load, however, is payable if the investor gives
a redemption / switch-out (to other open-ended schemes
of HDFC Mutual Fund) notice on any business day in writing
of at least five clear days (excluding the date of notice
and the date of redemption / switch -out). Such notice
once given cannot be withdrawn / changed. For redemptions
/ switches made on the maturity dates, the exit load
will be nil.
Asset Management Company Ltd is a joint venture between
HDFC Ltd and Standard Life Investments Ltd, UK.