HDFC Mutual Fund files offers document for Silver Fund of Fund
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HDFC Mutual Fund has filed offer document with SEBI to launch an open ended fund of fund scheme named ‘HDFC Silver Fund of Fund'. The New Fund Offer price is Rs 10. Entry load will be nil and Exit load of 2% is payable if Units are redeemed/switched-out within 6 months from the date of allotment; an Exit Load of 1% is payable if Units are redeemed/switched-out after 6 months but within 1 year from the date of allotment; No Exit Load is payable if Units are redeemed/switched-out after 1 year from the date of allotment. The Scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked with Domestic Prices of physical Silver (based on LBMA Silver daily spot fixing price). The minimum application amount is Rs 5000 and any amount thereafter.
The investment objective of the scheme is to seek capital appreciation by investing in units of HDFC Silver ETF.
