HDFC mutual to launch 2 debt funds on June 20

MUMBAI, June 17 (Reuters) - HDFC Asset Management will launch two close-end fixed income funds on June 20, the India mutual fund said on Tuesday.

HDFC FMP 90D June 2008 (3) and HDFC FMP 370D June 2008 (2), open for subscription till June 25 and June 26 respectively, will invest at least 60 percent of their assets in debt and money market instruments and the rest in government securities.

The funds will not charge any entry fee but HDFC FMP 90D June 2008 (3) will levy an exit fee of 0.75 percent before maturity. HDFC FMP 370D June 2008 (2) will charge an exit load of 1.5 percent, the fund house said. (Reporting by Nishant Kumar; editing by Ramya Venugopal)