IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan - Quarterly Series 55 - Plan A, a close ended income scheme. The scheme shall mature on 22 June 2010. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 12 March and closes on 18 March 2010.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option.
The scheme will allocate up to 100% of assets in debt and money market instruments with low to medium risk profile. Investment in securitised debt would be up to 50% of net assets of the plan(s). Investments in derivatives, foreign securities and stock lending would be nil.
The minimum application amount is Rs 10000 and in multiples of Rs 10.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The scheme will be managed by Mr. Anupam Joshi.
Source: http://profit.ndtv.com/2010/03/12113551/IDFC-Fixed-Maturity-Plan--Qua.html
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option.
The scheme will allocate up to 100% of assets in debt and money market instruments with low to medium risk profile. Investment in securitised debt would be up to 50% of net assets of the plan(s). Investments in derivatives, foreign securities and stock lending would be nil.
The minimum application amount is Rs 10000 and in multiples of Rs 10.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The scheme will be managed by Mr. Anupam Joshi.
Source: http://profit.ndtv.com/2010/03/12113551/IDFC-Fixed-Maturity-Plan--Qua.html
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