In a first for the AMC industry HDFC Mutual Fund on 8 February 2011 announced the launch of an unique debt product, HDFC DebtFund for Cancer Cure to support needy cancer patients. Dividend earned from the three-year close-ended fund will be donated to the Indian Cancer Society. There are two categories of the product- one in which 50 per cent dividend is given to charity and the other where the entire dividend is donated. At the end of three years the investor will get back the entire principal with the dividend, if applicable. Also the dividend amount donated to the society will be eligible tax benefits.
The offering made public on 18 February will be closed on 4 March and the minimum application amount is Rs 1 lakh.
Comments
All Comments (0)
Join the conversation