HDFC Debt Fund for Cancer Cure – a unique debt fund

HDFC Debt Fund for Cancer Cure – a unique debt fund with a social cause

Marina Wealth

HDFC MF has launched the HDFC Debt Fund for Cancer Cure Series II, an unique debt fund with a social cause. The fund’s dividends would be directed towards contributions towards Indian Cancer Society. The fund is available for subscription till 11th March 2014. This is a unique fund that appeals to the philanthropic objective of individuals, who want to channelize their savings towards a worthy social cause.

This fund provides an opportunity to the investors to contribute the dividends from the fund towards Indian Cancer Society, a NGO which provides support to Cancer patients across India.

This is a close ended Debt fund for a period of 3 years.
The fund has only dividend option.
The investor has an option to contribute either 50% or 100% of the dividends towards Indian Cancer Society.
The dividends contributed towards Indian Cancer Society is eligible for deduction u/s 80G of the The Indian Income Tax Act
HDFC MF will not charge any management or advisory fee on this fund. The total expense ratio is expected to be around 0.05%
HDFC MF would make a matching contribution of all dividends payable
The Series I has provided returns of 9.32% over the last 3 years and has declared dividends of Rs10.87 crores
At the end of the 3 year tenure, the original investment would be returned along with dividends, if any, to the investor (for those who want to contribute 50% of the dividends)

I strongly urge you to consider investing in this fund, if possible, as it provides an efficient way of channelising your contributions to an established and well run NGO with clear objectives.

About Indian Cancer Society:

ICS is a public charitable trust and an anti-cancer NGO established in 1951.

The rising number of people suffering from cancer in the country and the astronomical treatment cost has made it increasingly difficult to provide quality treatment, especially to the underprivileged. The money raised by the HDFC fund is used for treatment costs of needy and underprivileged patients.

The beneficiaries are identified by an advisory council and are typically patients with an annual income of less than Rs 1 lakh. Hospitals are selected and empanelled with the ICS Cancer fund depending on their medical facilities and sophistication. The Tata Memorial Hospital in Mumbai, Regional Cancer Centre in Trivandrum, the Cancer Institute, Adyar in Chennai, and other hospitals in cities such as Kolkata, Ahmedabad, Srinagar, Vellore and New Delhi are all empanelled to fund treatment of identified patients.