Community investment an offshoot of socially responsible investment has been around for ages. It is a booming market in both Europe and US.Taking community investment to a new level in India HDFC Mutual Fund recently launched three-year closed-end debt scheme in association with Indian Cancer Society with a purpose to donate money to cancer patients. The returns on investment (donations) would be looked after by the governing advisory council (GAC), comprising industry veterans and reputed doctors, already in place at the ICS which would also monitor funds disbursement. It would overview HDFC Debt Fund for Cancer Cure (‘HDFCC’) deployment, too. An independent auditor would be appointed to overview the decisions made by the GAC towards HDFCC. This was revealed by Milind Barve, MD, HDFC AMC Ltd, in an interview with IMT. Why did you think of a mutual fund in cancer cure? Milind Barve Mng. Director, HDFC AMC ltd Cancer is one of the most common non-communicable diseases in India. In 2008, nearly one million new cancer cases were detected in the country. The loss of lives as a result of this disease was more than six lakhs in that year. However, when detected early, …
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