IDFC Monthly Income Plan announces change in its scheme

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IDFC Monthly Income Plan announces change in its scheme
IDFC Mutual Fund has decided to change IDFC Monthly Income Plan from Fund of Fund Scheme to a Monthly Income Plan (debt scheme). Following are the change in fundamental attributes:

Investment Objective:
The Primary objective of scheme is to generate regular returns through investment primarily in debt securities. The secondary objective is to generate long term capital appreciation by investing a portion of the scheme"s assets in equity securities.

Asset Allocation Pattern:
The scheme will invest between 65 to 100% in debt securities (including securities debt). It may also invest up to 25% and 15% in equity & equity related instruments and money market instruments.

Load Structure:
The new exit load is 1% of the NAV if redeemed/ switch out of such investments with in one year (365 days) from the date of subscription applying first in first out basis, including investments through SIP/STP.

Minimum Application Amount:
The minimum application amount for purchase (non SIP) will be Rs. 5000/- and in multiples of Re 1 for purchases and in multiples of Rs 0.01 for switch-ins.

OneIndia Money

Read more about: mutual funds, idfc, debt, income
Story first published: Monday, July 25, 2011, 16:51 [IST]
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