HDFC MF launches Fixed Investment Plan
By Our Markets Bureau | 29 Jun 2004
The
primary objective of the scheme is to generate regular
income through investment in Debt / Money Market Instruments
and Government Securities. The minimum application amount
for HDFC FIP- June 2004 (2) is Rs. 25000 per application
and in multiples of Re.1 thereof.
The
entire initial issue expenses of the Plan will be borne
by HDFC
Asset Management Company Limited (the AMC). Investors
can obtain a copy of the Offer Document and abridged
offer document along with application form of HDFC FIP
from offices of HDFC AMC / its Investor Service Centres.
The
Scheme does not have any entry load, but an exit load
of one per cent is applicable on redemptions/switches
made before the maturity dates. However, no exit load
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 5 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 Such notice once given cannot be withdrawn/changed.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 would be nil.