IDFC Mutual Fund has launched a new fund named IDFC Fixed Maturity Plan 366 Days Series 77, a close ended income scheme. The scheme with the duration of 366 days shall mature on 30 May 2013. The new issue will open and close subscription on 28 May 2012.
IDFC Fixed Maturity Plan 366 Days Series 77 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.
The scheme will allocate upto 100% of assets in debt and money market instruments with low to medium risk profile. Investments in securitized debt, derivatives, foreign securities and stock lending would be nil.
100% of assets would be invested in AAA/A1 rated certificate of deposits.
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 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.
Powered by Capital Market - Live News