If you are looking to participate in charity,here is an opportunity for you. HDFC MF Charity Fund for Cancer cure. Investor can donate dividends towards charity,providing treatment towards needy & underprivileged cancer patients.
HDFC Charity fund for cancer cure fund:
1.It is an 1136 days closed ended scheme (Arbitrage or Debt option) from HDFC Mutual fund which aims to provide cash flow in form of dividends towards charity.
2.Investor have two donation options:Donate either 50% or 100% of the dividends declared in this plan.
3.Two investment options for investors: Investor can choose from either Arbitrage or Debt option.Under arbitrage option, fund manager will utilize price differentials between cash & future market to generate income.In debt option,manager will invest in fixed income securities maturing within schemes period to generate income.
4.Dividends in mutual funds are tax free in hands of investors.
5.Tax deduction u/s 80G : Donation of dividends made towards charity are eligible for tax deduction under section 80G of I.T.act.
How HDFC AMC will participate in social objective:
- AMC will not levy any investment and management fees to manage charity fund for cancer cure.
- HDFC AMC will match for donations towards dividends and will contribute for equal amount of corpus subject to maximum cap of Rs.15 Crore.
This is third offering by HDFC MF of this kind.This new fund offer will open for subscription for period between March 10, 2017 to March 24, 2017.
