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IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series - 62, a close ended income scheme. The tenure of the scheme is 501 days from the date of allotment. The new issue will open for subscription only from 02 January to 09 January 2014.
IDFC Fixed Term Plan Series - 62 seeks to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme will invest upto 30% of its assets in money market instruments (including CBLO) with low to medium risk profile and invest 70%-100% of its asset in debt securities with medium to high risk profile.
Minimum application amount is Rs 10,000 and in multiples of Rs 10.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 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 Short Term Bond Fund Index.
The scheme will be managed by Anupam Joshi.
For further information on the topic you can CONTACT Prajna Capital on 94 8300 8300 by leaving a missed call.
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