Mutual funds (MFs) launched a slew of schemes for investors on Monday, offering both debt and equity options, some of which are open ended. Luring investors with various options are ICICI MF, HDFC MF, IDBI MF, Sundaram MF and Reliance MF.
HDFC DAF - III - 1267D October 2016 is a close ended scheme that opens on Monday (October 10) and closes on October 21 with a minimum investment ceiling of Rs 5,000. The scheme aims to invest mainly in debt and related instruments, in addition to equity, to generate returns for investors.
"The scheme seeks to generate returns by investing in a portfolio of debt and money market instruments which mature on or before the date of maturity of the Scheme. The scheme also seeks to invest a portion of the portfolio in equity and equity related instruments to achieve capital appreciation," according to an update about the scheme.
ICICI Prudential Fixed Maturity Plan - Series 80 - 1100 Days Plan A is another close ended scheme with a similar investment plan. The scheme opens on Monday (October 10) and closes on October 17 2016, and the minimum subscription amount is Rs 5,000.
"The investment objective of the Scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme," according to an update on the scheme's investment mantra.
IDBI Prudence Fund, which opened on October 3, is an open ended scheme that closes on October 17, 2016. The minimum subscription amount is Rs 5,000.
"The investment objective of the scheme would be to generate opportunities for capital appreciation along with income by investing in a diversified basket of equity and equity related instruments, debt and money market instruments," according to the offer details for the scheme.
Sundaram Long Term Micro Cap Tax Advantage Fund Series III, is a close ended scheme, offering tax saving options for investors (ELSS). The scheme opened on August 8 and will close on November 11 2016.
"The investment objective of the scheme is to generate capital appreciation over a period of ten years by predominantly investing in equity and equity-related instruments of companies that can be termed as micro-cap and from income tax benefit available," according to the offer details for the scheme.
The minimum subscription amount for Sundaram Long Term Micro Cap Tax Advantage Fund Series III is Rs 500.
Reliance Fixed Horizon Fund XXXI- Series 16 opens on Monday (October 10) and closes on October 13 2016.
"The primary investment objective of the scheme is to seek to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility - central and state government securities and other fixed income/ debt securities," according to the investment mantra as put out on Amfi website.
The close ended scheme under the "income" category comes with a minimum subscription amount option of Rs 5,000.
