HDFC Mutual Fund floats 92 days fixed maturity plan

HDFC Mutual Fund new issue closes on 28th June

HDFC Mutual Fund has launched HDFC FMP 92D June 2011 (3), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 92 days.

The new issue closes on 28th June. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek and Miten Lathia (for overseas investments) are the fund managers.

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COMMENTS

deepak shrivatri

5 years ago

plan details hdfc mutual fund 92 days

HDFC Mutual Fund unveils 370 days fixed maturity plan

HDFC Mutual Fund new issue closes on 27th June

HDFC Mutual Fund has launched HDFC FMP 370D June 2011 (4), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 370 days.

The new issue closes on 27th June. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek and Miten Lathia (for overseas investments) are the fund managers.

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PE, VC investments to touch $75 bn by 2015: Grant Thornton

PE funds had crossed $50 billion over the last six years

Private equity (PE) and venture capital (VC) investments, which are major contributors in development of several sectors in the country, are likely to touch $70-75 billion till 2015, leading audit and advisory firm Grant Thornton said.

“We expect $70-75 billion of PE and VC investments in India during 2010-2015,” Sudhir Sethi, founder, chairman and managing director, IDG Ventures India and member of IVCA Executive Committee and Research and Data Sub Com told reporters after the launch of 'The Fourth Wheel'.

'The Fourth Wheel' is a report on PE and Venture Capital (VC) in India, jointly prepared by Grant Thornton and India Venture Capital Association (IVCA).

Grant Thornton India Partner, leadership team, Harish HV said PE funds had now crossed $50 billion over the last six years and 2010 alone saw $6 billion fund flow.

"This year [calender year] the PE fund flow is likely to be around $10-11 billion as India provides huge opportunity compared to other emerging nations," Harish said.

A lot more money is waiting for investment and India provides highest growth rate at 7-8%, mainly in sectors like financial services, infrastructure and domestic consumption, he said.

This positive fund flow indicates that PE and VC funds will be the fourth wheel, which is moving rapidly, and have thus become the major contributors to the Indian economy and the wealth creation, he said.

This class has created substantial wealth for the industry and there is a need for easier policy framework and relaxation in investment regime, Harish pointed out.

Talking about exit, he said, it is likely to be a challenge and there are likely to be more strategic exits, mergers and acquisitions between PE-backed companies and secondary transactions between PE houses, as the major avenues for exit and initial public offering (IPO), as an option, may diminish till there is a separate mid-market platform.

"The usual period for PE exits in India is about 4-6 years and in 2011 there may be on an average 20-30% of exits," he said.

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