HDFC launches Debt Fund for Cancer Cure

HDFC has launched a close ended fund , HDFC Debt Fund for Cancer Cure (HDFCC).  This will be a capital protection oriented scheme.  This scheme will enable unit holders to contribute the dividend declared to Indian Cancer Society. This donation will be eligible for deduction under section 80G of Income Tax Act.   Investors may opt to donate either 50 per cent or 100 per cent of such dividend declared. The amount would be automatically contributed to the ICS. The dividends, as is the case with all mutual funds would be tax-free in the hand of the investor. The fund is suitable only for those investors whose primary objective is philanthropy than generating high returns.


The NFO will close on 4th March 2011.
For details visit http://www.hdfcfund.com/