IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan Sixty Months Series 2, a close ended income scheme with the duration of 60 months. The scheme shall mature on 24 January 2016. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 10 January 2011 and close on 20 January 2011.
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 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.
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 Anupam Joshi.
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