1144-days maturity period scheme launched by IDFC MF
05/05/2015 10:55
IDFC Mutual Fund has launched a new close ended income scheme named “IDFC Fixed Term Plan Series - 108 (1144 Days)” with maturity period of 1,144 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on May 7.
According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 10,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option.
The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Anupam Joshi will be the Fund Manager of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of money market instruments (including CBLO) and debt securities. Hence, the scheme will allocate 0 to 20 per cent of asset in money market instruments (including CBLO) and 80 to 100 per cent of asset in debt securities.
05/05/2015 10:55
IDFC Mutual Fund has launched a new close ended income scheme named “IDFC Fixed Term Plan Series - 108 (1144 Days)” with maturity period of 1,144 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on May 7.
According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 10,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option.
The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Anupam Joshi will be the Fund Manager of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of money market instruments (including CBLO) and debt securities. Hence, the scheme will allocate 0 to 20 per cent of asset in money market instruments (including CBLO) and 80 to 100 per cent of asset in debt securities.
