HDFC Mutual Fund is attempting something very unique and new which is beyond just making money out of the investment made which is charity.
The new fund will come in a package along with tax benefits and is a three-year close-ended capital protection debt scheme. As per the offer document, management fee also would not be charged by the asset management company.
HDFC Debt Fund for Cancer Cure is a three-year close-ended capital protection oriented income scheme. An investor will have an option of donating the dividends earned, on his investments, either partly or wholly, to ICS.
The donation of dividend to ICS is eligible for tax deduction under Section 80G of Indian Income-tax Act, 1961.
The new issue will be launched on 18th February and will close on 4th March. HDFC Mutual Fund, as a part of its contribution towards this social objective, would not levy any investment and advisory fee to manage the Fund and would also bear the distribution and marketing costs.
The new fund will come in a package along with tax benefits and is a three-year close-ended capital protection debt scheme. As per the offer document, management fee also would not be charged by the asset management company.
HDFC Debt Fund for Cancer Cure is a three-year close-ended capital protection oriented income scheme. An investor will have an option of donating the dividends earned, on his investments, either partly or wholly, to ICS.
The donation of dividend to ICS is eligible for tax deduction under Section 80G of Indian Income-tax Act, 1961.
The new issue will be launched on 18th February and will close on 4th March. HDFC Mutual Fund, as a part of its contribution towards this social objective, would not levy any investment and advisory fee to manage the Fund and would also bear the distribution and marketing costs.
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