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HDFC MF has launched HDFC Charity Fund for Cancer Cure in collaboration with the Indian Cancer Society (ICS). This is the fourth edition of the fund house’s cancer cure series.
The fund will donate income generated through the Income Distribution cum Capital Withdrawal (IDCW) option to ICS for the treatment of underprivileged cancer patients.
Investors will have the flexibility to choose either a 50% or 75% contribution of IDCW as a donation. Interestingly, the fund house will also contribute an amount equal to these donations, subject to a limit of Rs 16 crore per financial year.
HDFC Charity Fund for Cancer Cure is a fixed maturity plan and a close ended income scheme having a tenure of 1,196 days.
The fund house has waived all investment management and advisory fees so that the maximum benefit goes towards this cause.
Commenting on the launch, Navneet Munot, MD and CEO, HDFC MF said, “The noble mission is to make a meaningful impact on the lives of those fighting this formidable battle. Together, as we invest in both financial growth and human well-being, we can create a future where hope and healing become accessible to all."
To this, Usha Thorat, Secretary and Managing Trustee, ICS 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.”
The NFO is open for subscription from July 28, 2023 to August 8, 2023
