HDFC Mutual Fund files offers document for MSCI Emerging Markets Index Fund of Funds
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HDFC Mutual Fund has filed offer document with SEBI to launch an open ended fund of funds scheme named ‘HDFC MSCI Emerging Markets Index Fund of Funds'. The New Fund Offer price is Rs 10. Entry load will be nil and Exit load will be 1.00% is payable if Units are redeemed/ switched- out within 30 days from the date of allotment of units; and No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment. The Scheme offers growth option only for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked with MSCI Emerging Markets Index (Net Total Return Index).The minimum application amount is Rs 50000 and any amount thereafter.
The investment objective of the scheme is to provide long-term capital appreciation by passively investing in units/shares of overseas Index Funds and/ or ETFs which track MSCI Emerging Markets Index, subject to tracking error.
