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  • News From Press Do donations through mutual funds work?

    Do donations through mutual funds work?

    Source- Mint Mar 16, 2017

     

    If you wish to donate a part of your income but didn’t know where to start, then help is at hand. HDFC Asset Management Co. Ltd has launched the third version of HDFC Charity Fund for Cancer Cure (HCC3). Quantum Asset Management Co. Ltd, too, has launched a facility whereby you can donate a part of your annual earnings from its existing schemes. 

    What is it?

    HCC3 is a roughly 3-year (1,136 days) closed-end scheme. It invests your money in underlying instruments and generates dividends, which are meant to go towards charity. It has a tie-up with the Indian Cancer Society, one of India’s oldest anti-cancer non-government organisation (NGO).

    The aim is to donate the dividends declared (either 50% or 100%, depending on what you choose) to the NGO, which will then disburse it. At the end of the scheme’s tenure, the investor gets her capital back. 

    This scheme’s earlier variants were also of roughly 3 years; the second version is due for maturity. But unlike the previous two versions, which were just debt schemes, this time HDFC AMC is also launching an arbitrage scheme. 

     

    If you wish to donate a part of your income but didn’t know where to start, then help is at hand. HDFC Asset Management Co. Ltd has launched the third version of HDFC Charity Fund for Cancer Cure (HCC3). Quantum Asset Management Co. Ltd, too, has launched a facility whereby you can donate a part of your annual earnings from its existing schemes. 

    What is it?

    HCC3 is a roughly 3-year (1,136 days) closed-end scheme. It invests your money in underlying instruments and generates dividends, which are meant to go towards charity. It has a tie-up with the Indian Cancer Society, one of India’s oldest anti-cancer non-government organisation (NGO).

    The aim is to donate the dividends declared (either 50% or 100%, depending on what you choose) to the NGO, which will then disburse it. At the end of the scheme’s tenure, the investor gets her capital back. 

    This scheme’s earlier variants were also of roughly 3 years; the second version is due for maturity. But unlike the previous two versions, which were just debt schemes, this time HDFC AMC is also launching an arbitrage scheme. 

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