HDFC mutual plans to launch asset allocation fund

HDFC mutual plans to launch asset allocation fund
Comment E-mail Print Share
First Published: Wed, Apr 18 2007. 03 08 PM IST
Updated: Wed, Apr 18 2007. 03 08 PM IST
Reuters
Mumbai: HDFC Asset Management Co. Ltd. on 18 April filed initial papers with Sebi to launch a fund that would allocate its assets to equity, debt and money market instruments.
HDFC Prudence Dynamic Fund, an open-end asset allocation scheme, would invest up to 64% of its assets in equities and the rest in debt and money market instruments, the fund house said in its offer document.
The fund would charge an entry load 1% and an exit fee of 1% for those exiting within a year, it said. The fund house managed assets worth about Rs28,400 crore at the end of March, data from Association of Mutual Funds showed.
Comment E-mail Print Share
First Published: Wed, Apr 18 2007. 03 08 PM IST
More Topics: Money Matters | Mutual Funds |