The record date for the dividend distribution has been set as April 18, 2011. The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The dividend will be entire appreciation in net asset value of dividend option. The NAV of the scheme was at Rs 10.0628 per unit as on 12th April 2011 under dividend option of the scheme.
The minimum investment amount under the scheme is Rs. 10,000. The scheme, which commenced on March 14, 2011, has posted a positive return of 0.49% till Monday this week.
Meanwhile, the returns generated by other schemes of the AMC in the same category are different, as IDFC FMP - MS 28 in same category is giving the negative return of 0.11% during March 7, 2011 to April 11, 2011, while another scheme of same category named as IDFC FMP - MS 30 is posting the positive return of 0.43% during March 21, 2011 to April 11, 2011.