HDFC Asset Management Company, has launched a unique mutual fund scheme i.e., HDFC Charity Fund for Cancer Cure. The new fund offer (NFO) will open on July 28, 2023 and close on August 08, 2023.
Launched in collaboration with Indian Cancer Society (ICS), this Fixed Maturity Plan (FMP) is a close ended income scheme with tenure of 1,196 days.
This mutual fund scheme enables investors to contribute towards a social cause while combining their investments with philanthropy by donating income generated through the IDCW option to ICS for the treatment of underprivileged cancer patients.
The initiative aims to create a positive impact and a hope for a better future for cancer victims with limited means.
The scheme enables investors in the HDFC Charity Fund for Cancer Cure to have the flexibility to choose either a 50% or 75% contribution of Income Distribution cum Capital Withdrawal (IDCW) to be donated to the ICS.
HDFC AMC will match donations with an equal amount directly contributed to ICS (subject to a limit of ₹16 crore per financial year).
The fund house has waived all investment management and advisory fees for this scheme, ensuring that the maximum benefit goes towards supporting cancer patients in need.
“As we launch this series of HDFC Charity Fund for Cancer Cure, we embrace a unique approach that combines the power of investment with compassion-driven giving,” says Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company.
The scheme enables investors to donate part of the income generated to the Indian Cancer Society to support the treatment of underprivileged cancer patients.
Usha Thorat, Hon. Secretary and Managing Trustee of the Indian Cancer Society said, “This scheme, a part of the series of Cancer Cure Funds, is making a significant difference in the lives of underprivileged cancer patients, empowering them with access to vital treatment and care.”