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Friday, Jan 21, 2005

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HDFC Mutual plans multi cap fund

Our Bureau

Mumbai , Jan. 20

HDFC Mutual Fund is seeking the approval of Securities and Exchange Board of India to launch a multi cap fund.

The primary objective of the scheme is to generate capital appreciation in the long-term through equity investments by investing in a diversified portfolio of smaller, fast growing blue chip companies, says the offer document of the fund.

The fund would invest 90-95 per cent of its corpus in equity and equity-related instruments and can invest 5-10 per cent in fixed income securities.

The benchmark for the scheme would be S&P CNX 500.

The minimum application amount of the fund is Rs 5,000 and the fund is available in both growth and dividend options, says the offer document.

An entry load of 2.25 per cent would be charged on investments less than Rs 5 crore.

The offer document is now filed with the Securities and Exchange Board of India.

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