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HDFC Mutual Fund seeks SEBI approval for ultra short term fund

The scheme will deploy its entire corpus in debt instruments, including securitised debt and money market instruments.

May 31, 2018 / 04:06 PM IST
No 5 | Company name: HDFC Asset Management Company | Market Cap: Rs 61,469 crore | Price return: 101% (Image: PTI)

No 5 | Company name: HDFC Asset Management Company | Market Cap: Rs 61,469 crore | Price return: 101% (Image: PTI)


Moneycontrol News

HDFC Mutual Fund has sought the Securities and Exchange Board of India's approval for its HDFC Ultra Short Term Fund, according to the draft offer document available on the regulator's website.

The open-ended debt scheme will invest in instruments with a Macaulay duration of between three to six months.

According to Investopedia, the Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the cash flow by the price.

The scheme will deploy its entire corpus in debt instruments, including securitised debt and money market instruments.

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It also has the provision to invest up to 10 percent of its assets in units issued by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 5,000 and in multiples of 10 rupees thereafter
* Exit Load: Nil* Fund managers: Anil Bamboli, Rakesh Vyas
first published: May 31, 2018 04:06 pm

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