mutual funds

HDFC to launch income scheme


HDFC Mutual Fund has designed an income scheme with multiple dividend option, including a monthly option. The scheme named Regular Income Plan would be pitted against the MIPs and would be positioned to attract MIP bound funds. The proposal has been sent to SEBI for approval and has two plans, namely, short-term plan and long-term plan. The short-term plan comes with monthly and quarterly dividend options and while the other comes with a half yearly dividend and a growth option. Both the funds have a dividend reinvestment option. The asset allocation pattern reveals that the fund would invest primarily into debt and money market. The exposure into equity would be limited. Normally the fund would invest 25 per cent into equity and equity related instruments, the remaining 75 per cent going into debt and related instruments. The benchmark index would be MIP Balanced Index maintained by CRISIL.

Reliance Capital MF plans to be among top 3



Relianc...