HDFC AMC announces change in name of Scheme and Exit Load
HDFC Asset Management Company (AMC) has announced addendum to the Scheme Information Document (SID) / Key Information Memorandum (KIM) of HDFC Dynamic PE Ratio Fund of Funds and Statement of Additional Information (SAI) of HDFC Mutual Fund.
HDFC Mutual Fund has informed that ‘HDFC Dynamic PE Ratio Fund of Funds’ (‘the Scheme’) was proposed to be renamed as ‘HDFC Debt Advantage Fund of Funds’ with effect from March 19, 2025 as per the addendum dated February 06, 2025 issued on the website of HDFC Mutual Fund.
However, as per SEBI’s Letter to AMFI dated February 06, 2025 on ‘Framework for launching of Fund of Fund (FOF) Schemes with multiple underlying funds’ all AMCs are advised to align/ re-categorize their existing FOFs, including aligning the names of such schemes.
Accordingly, the name of the Scheme shall stand revised from ‘HDFC Dynamic PE Ratio Fund of Funds’ to ‘HDFC Income Plus Arbitrage Active FOF’ with effect from March 19, 2025 (‘Effective Date’).
Further, the exit load proposed in the aforesaid addendum shall also stand revised with effect from March 19, 2025 from Existing ‘1) In respect of each purchase / switch-in of Units - an Exit Load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment and No Exit Load is payable - if Units are redeemed / switched-out after 1 year from the date of allotment. 2) In respect of Systematic Transactions such as SIP, STPs etc., Exit Load, if any, prevailing on the date of registration / enrolment shall be levied to ‘the Exit Load is nil for the scheme’ (Revised Exit Load).
All other terms and conditions of the Scheme remain unchanged. This addendum shall form an integral part of the SID / KIM of the Scheme and SAI of the Fund as amended from time to time.
