IDFC Mutual Fund has launched a new fund named as IDFC Monthly Income Plan, an open ended fund of funds scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 11 January 2010 and closes on 9 February 2010.
Investment Objective:
The primary objective of the scheme is to generate regular returns through investment primarily in debt oriented mutual fund schemes (such as Income and Liquid funds). The secondary objective of the scheme is to generate long-term capital appreciation by investing a portion of the scheme's assets in equity oriented mutual fund schemes.
Options:
The scheme offers dividend and growth option. Dividend option offers payout, reinvestment and auto sweep as its sub option.
Asset Allocation:
IDFC Monthly Income Plan will allocate 65% to 100% of assets in units of mutual funds investing in debt / liquid / income funds and up-to 25% of assets in units of mutual funds investing in equity funds with high risk profile. It would further allocate up-to 15% of assets in money market instruments with low to medium risk profile
Minimum Application Amount:
The minimum investment amount is Rs 5,000 and in multiples of Re 1 for Non SIP and in multiples of Re 0.01 for switches. Additional ongoing purchase (Non SIP) - Rs 1,000 and in multiples of Re 1 thereafter. For SIP purchase Rs 1,000 which is subject to minimum of 6 installments of Rs 1,000 each.
Minimum Target Amount:
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Load Structure:
There shall be no entry load in the scheme. Exit load charge of 1% of the NAV shall be applicable if investors who redeem / switch out such investments within 365 days from the date of subscription applying First in First Out basis, (including investments through SIP/STP). No exit load shall be applicable for switches between options of the schemes.
Benchmark:
The Scheme's performance will be benchmarked against CRISIL MIP Blended Index.
Fund Manager:
Ashwin Patni will be the fund manager for the scheme.
Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24
Investment Objective:
The primary objective of the scheme is to generate regular returns through investment primarily in debt oriented mutual fund schemes (such as Income and Liquid funds). The secondary objective of the scheme is to generate long-term capital appreciation by investing a portion of the scheme's assets in equity oriented mutual fund schemes.
Options:
The scheme offers dividend and growth option. Dividend option offers payout, reinvestment and auto sweep as its sub option.
Asset Allocation:
IDFC Monthly Income Plan will allocate 65% to 100% of assets in units of mutual funds investing in debt / liquid / income funds and up-to 25% of assets in units of mutual funds investing in equity funds with high risk profile. It would further allocate up-to 15% of assets in money market instruments with low to medium risk profile
Minimum Application Amount:
The minimum investment amount is Rs 5,000 and in multiples of Re 1 for Non SIP and in multiples of Re 0.01 for switches. Additional ongoing purchase (Non SIP) - Rs 1,000 and in multiples of Re 1 thereafter. For SIP purchase Rs 1,000 which is subject to minimum of 6 installments of Rs 1,000 each.
Minimum Target Amount:
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Load Structure:
There shall be no entry load in the scheme. Exit load charge of 1% of the NAV shall be applicable if investors who redeem / switch out such investments within 365 days from the date of subscription applying First in First Out basis, (including investments through SIP/STP). No exit load shall be applicable for switches between options of the schemes.
Benchmark:
The Scheme's performance will be benchmarked against CRISIL MIP Blended Index.
Fund Manager:
Ashwin Patni will be the fund manager for the scheme.
Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24
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