HDFC Mutual Fund has filed an offer document with securities and exchange board of India (SEBI) to launch HDFC Banking and Financial Services Fund, an open-ended equity scheme.
The new fund offer (NFO) price for the scheme is Rs 10 per unit.
The new fund offer (NFO) price for the scheme is Rs 10 per unit.
Investment objective:The investment objective of the scheme is to generate long term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services.
Plans:The scheme shall offer growth and divided option. Dividend option offers divided payout and dividend re-investment facility.
Asset allocation:The scheme would invest 65% to 100% of asset in equity and equity related securities of companies engaged in banking and financial services, with a risk profile of medium to high. The scheme would invest 0% to 35% of asset in equity and equity related instruments of companies other than banking and financial services, with a risk profile of medium to high. The scheme may invest 0% to 35% of asset in debt and money market instruments including investments in securitized debt, with low risk profile. Investment in securitized debt shall not exceed 20% of the net assets of the scheme.
Load structure:Entry load charge is not applicable for the scheme. In respect of each purchase / switch-in of units, an exit load charge of 1% is payable if the units are redeemed / switched-out within 1 year from the date of allotment. No exit load is payable if units are redeemed / switched-out after 1 year from the date of allotment.
Minimum application amount:Minimum application amount for purchase will be Rs. 5,000 and any amount thereafter. For additional purchase the amount will be Rs. 1,000 and any amount thereafter.
Target amount:The minimum subscription (target) amount of Rs. 10 million is expected to be raised during the NFO period of HDFC Banking and Financial Services Fund.
Benchmark index:The scheme`s performance will be benchmarked against BSE Bankex Index.
Fund managers:The fund managers of the scheme will be Vinay R. Kulkami and Anand Laddha.
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