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- HDFC Charity Fund for Cancer Cure
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HDFC AMC has recently launched a HDFC Charity Fund for Cancer Cure which is a social initiative of HDFC in association with Indian Cancer Society (ICS). If you have Philanthropy in mind then this is a good option available for you.
Features of the scheme:
- The tenure of the fund is 1136 days or 3.11 Years.
- Option of having underlying investment as Short Term Debt Fund or Arbitrage Fund.
- Post tax annual dividend of approx 5%-6% of the funds invested will be paid to Indian Cancer Society as donation.
- Automatic redemption of investment after 3 years. Capital amount will be given back to investor.
- Investor will have a choice of contributing 50% or 100% of profit for donation.
- Tax benefit under section 80G available to investor for the dividend amount contributed.
- The fund closes for investment on 24/3/17
Support of HDFC:
- HDFC won’t charge any management fees in the scheme. Complete profit from investment will be available for donation.
- HDFC shall contribute an amount equal to the dividend donated by investors thereby doubling the corpus available to Indian Cancer Society. Effectively, approx 10% -12% p.a. of the funds invested will be paid as donation.
Support of RoboAdviso:
- HDFC is paying a total brokerage of 2% for the entire tenure of fund. RoboAdviso has decided to contribute 100% of brokerage received by them from this scheme to Indian Cancer Society.
HDFC AMC has launched similar fund in 2011 and 2014 as well. Bothe funds did well and delivered as per their objective. The details of past funds are as under:
It is important to do philanthropy at regular interval for improvement and development of our society. HDFC Charity Fund for Cancer Cure is the best option available to investors to do charity in the most transparent, low cost and efficient way.
Good Fund House
Excellent past delivery