HDFC Mutual Fund, one of the largest private sector
mutual funds in India, has announced that its recently
launched HDFC MF Monthly Income Plan (MIP) is opening
for regular subscription, on an on-going basis, from
29 December 2003.
will be available for purchase, redemption and switches
at net-asset value (NAV)-based prices. The initial public
offering (IPO) of HDFC MF MIP opened on 17 November
2003 and closed on 8 December 2003. During the IPO,
HDFC MF MIP mobilised around Rs 920 crore, making it
one of the largest mobilisation in the history of the
private sector MF scheme. The fund received around 72,000
applications from investors across the country.
opening NAV of the scheme for the growth option and
the monthly / quarterly dividend option under the short-term
plan is Rs 10.1345 per unit as on 27 December 2003.
The opening NAV of the scheme for the growth option
and the monthly / quarterly dividend option under the
long-term plan is Rs 10.1577 per unit as on 27 December
objective of HDFC MF MIP, an open-ended income scheme,
is to generate regular returns by investing primarily
in debt and