HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1434D May 2018 (1), a plan under HDFC Fixed Maturity Plans - Series 40 (a close-ended income scheme). The tenure of the scheme is 1434 days from the date of allotment of units. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 04 May 2018 to 08 May 2018.

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan.

The plan shall offer three options - growth, dividend and flexi option.

The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be not applicable for the plan.

Benchmark Index for the plan is CRISIL Composite Bond Fund Index.

The fund managers of the scheme are Anupam Joshi & Rakesh Vyas (Dedicated fund manager for overseas investments).