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

  • It is for the market, not the government to decide the fares of private air carriers

    In a country where substantial lip service is paid to the glories of a free economy and laissez faire, there is enough evidence to suggest that in rea

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

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture