HDFC Mutual Fund launches HDFC RGESS-Series 2

HDFC Mutual Fund today said it has launched HDFC Rajiv Gandhi Equity Savings Scheme–Series 2 (HDFC RGESS-2), a three year close-ended equity scheme.

The new fund offer, which has opened for subscription from January 30, will close on February 24, 2014, the company said.

"The scheme shall predominantly invest in the eligible securities of RGESS (minimum 95 per cent) and invest in cash and cash equivalents and money market instruments and liquid schemes (maximum 5 per cent), only to the extent necessary to meet the liquidity requirements for honouring redemptions," it said in a release.

As per the fund house, investment in HDFC RGESS-2 is eligible for 50 per cent tax deduction of the invested amount under the Income Tax Act for new retail investors investing upto Rs 50,000 and having gross total income less than or equal to Rs 12 lakh.

EDITORIAL OF THE DAY

  • Public musn’t pay for domestic servants for our diplomats

    Nothing seems to have changed in the year and half since the fur that flew thick and fast over the case of diplomat Debjani Khobragade and her maid Sa

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture