IDFC Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch IDFC Real Estate Equity Fund, an open ended equity fund. The new fund offer (NFO) price for the scheme is Rs.10 per unit.
The investment objective of the scheme is to seek to generate long-term capital growth from a portfolio of predominantly equity and equity related instruments of companies engaged in real estate and related activities.
The scheme offers dividend and growth option. Reinvestment facility is also available under the dividend option.
Under normal circumstances the scheme would invest 65-100% of asset in equities & equity related securities of companies engaged in real estate and real estate related activities. The scheme may also invest 0-35% in debt and money market instruments.
Investments in derivatives - upto 100% of the net assets.
Investments in foreign debt instruments - up to 35% of the net assets of the scheme.
Investments in ADRs and GDRs issued by Companies in India / equity of listed overseas companies as permitted by SEBI regulations - upto 50% of the net assets of the scheme.
Investments in securitized debt - 35% of the net assets of the scheme.
The minimum application amount is Rs 5000 per application and in multiples of Re.1 thereafter.
During the New Fund Offer period the scheme, seeks to raise a minimum subscription of Rs.1 crore.
Exit load: 1% if redeemed within 365 days from the date of allotment/investment.
The scheme will be benchmarked against BSE 200 Index (50%) + BSE Realty Index (50%).
The fund manager for the scheme: Kenneth Andrade
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