IIFL Mutual Fund, a subsidiary of the diversified financial
services provider India Infoline, today launched an open-ended fund called IIFL
Dividend Opportunities Index Fund.
The objective of the scheme is to provide returns to
investors by investing in 50 high-dividend yielding stocks, IIFL AMC chief
executive Gopinath Natarajan told reporters.
The minimum subscription amount for the scheme, which opens
tomorrow and closes on June 19, is Rs 5,000. The fund will also offer monthly
and quarterly investment plans.
The fund house will be investing in the stocks across 25
diversified sectors, comprising large and mid-cap stocks, he said.
"The scheme is good for those who aim to reap benefits
from high-dividend yields, cash-flow generating companies, which share their
profits by way of dividends. The scheme is not only suited for investors
looking at tactical allocation but also to those looking at potential long-term
gains," Natarajan said.
The fund offers two options -- growth and dividend – as well
as a speciality facility of systematic investment plan.
"There is no entry load, while an exit load of one per
cent will be charged for exit before one year from the date of allotment. The
units of the scheme are available in the demat mode also," he added.
Source: http://www.indianexpress.com/news/iifl-launches-dividend-mutual-fund/958197/
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