HDFC Mutual Fund's new fund enables support for cancer cure

economictimes.indiatimes.com:

NFO) of HDFC Charity Fund for Cancer Cure, a fixed maturity plan (FMP), with a tenure of 1,196 days. The scheme launched in collaboration with the Indian Cancer Society (ICS), will allow investors to donate returns generated from it to ICS for the treatment of underprivileged cancer patients. The NFO is currently open and closes on August 8. The minimum investment amount is ₹50,000 and in multiples of ₹1,000 thereafter. This NFO is the fourth edition of the cancer cure series. The scheme, a closed-ended FMP, is a debt-oriented scheme that will invest in AAA-rated corporate bonds. Investors can choose either a 50% or 75% contribution of the income earned to be donated to the ICS. This could be done through the income distribution cum capital withdrawal (IDCW) option to the ICS.

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After the end of the tenure, the principal will be returned to the investor. HDFC AMC will match donations with an equal amount directly contributed to ICS, subject to a limit of ₹16 crore per financial year.