HDFC AMC has announced the launch of a unique scheme, the HDFC Charity Fund for Cancer Cure. This is a Fixed Maturity Plan (FMP) and a close-ended income scheme with tenure of 1,196 Days, launched in collaboration with Indian Cancer Society (ICS). 

In a statement, HDMC said the HDFC Charity Fund for Cancer Cure will enable 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 will aim to create a positive impact and a hope for better future for cancer victims with limited means. 

NFO dates

The New Fund Offer will open on July 28, 2023, and close on August 08, 2023.

Scheme options and how will it work?

HDFC Charity Fund for Cancer Cure scheme will enable investors 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 Rs 16 crore per financial year). HDFC AMC has also waived all investment management and advisory fees for this scheme to ensure that the maximum benefit goes towards supporting cancer patients in need.

This NFO is the 4th edition of the cancer cure series. Since its initial launch in 2011, the collective contribution from the series, including direct contribution from HDFC AMC, is nearly Rs 190 crore, the AMC said. 

“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. The Scheme enables investors to donate part of the income generated to the Indian Cancer Society to support the treatment of underprivileged cancer patients. 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,” Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company Limited said.

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Usha Thorat, Hon. Secretary and Managing Trustee of the Indian Cancer Society added, “We are grateful to HDFC Mutual Fund for their philanthropic initiative in launching the HDFC Charity Fund for Cancer Cure. 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. Through these initiatives, HDFC Mutual Fund is demonstrating its unwavering commitment to creating a positive social impact and fostering a better future for those affected by cancer.”

Disclaimer: This article is based on a press release shared by HDFC AMC. Mutual Fund investments are subject to market risks. Invest in this scheme if you are interested in contributing to a charitable cause while investing for fixed income.