HDFC Mutual Fund Launches Cancer Cure Fund

HDFC Mutual Fund has launched its fourth fund under its cancer cure series. The NFO for the scheme will open on 28 July 28 and close on 08 August 2023. The scheme has a tenure of 1,196 days.

This Scheme enables 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. 

By launching this fund, the company aims to create a positive impact and a hope for a better future for cancer victims with limited means. 

"The Scheme enables investors in the HDFC Charity Fund for Cancer Cure to have the flexibility to choose either a 50 per cent or 75 per cent 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 limit of Rs 16 crore per financial year). As a testament to its commitment, HDFC AMC has waived all investment management and advisory fees for this scheme, ensuring that the maximum benefit goes towards supporting cancer patients in need," the company said.

Since its initial launch in 2011, the collective contribution from the series, including direct contribution from HDFC AMC, is nearly Rs 190 crore, making a big impact on thousands of lives.

Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company Limited 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."

Usha Thorat, Secretary and Managing Trustee of the Indian Cancer Society added, “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.”