HDFC MF''s new plan

Mumbai: In its continuous endeavour to provide investment options to retail investors across India, HDFC Mutual Fund, one of the largest private sector mutual fund in the country, is launching HDFC MF Monthly Income Plan (MIP), an open-ended income scheme with no assured returns.

The initial offer for HDFC MF MIP opens on 17 November 2003 and closes on 8 December 2003. The objective of the scheme is to generate regular returns by investing primarily in debt and money market instruments. The scheme will also invest a small portion of the net assets in equities, as equities generally generate better returns than other instruments over a long period of time.