IDBI Mutual Fund launched a new closed ended income scheme called “IDBI Fixed Maturity Plan - Series II (Plan F to J)". The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.
According to the offer document filed with SEBI, the entry load is nil and exit load is not applicable under the scheme.
The minimum application amount is Rs 5,000 and in multiples of Re. 1 thereafter.
The performance of the schemes with maturity period up to 91 days shall be benchmarked against CRISIL Liquid Fund index and the schemes of the tenure of above 91 days and up to 36 months shall be standardized against CRISIL Short Term Bond Fund Index, while the schemes of maturity more than 36 months will be benchmarked against CRISIL Composite Bond Fund Index.
Gautam Kaul will be the fund manager the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme generate will be met through investment in Debt and Money Market Instruments. Hence, the schemes of maturity up to and including 18 months will allocate 100 per cent of its assets in money-market instruments and debt instruments (including government securities, floating rate debt instruments and securitized debt), further the schemes with maturity above 18 months and Up to and including 3 Years will allocate 50 to 100 per cent of its assets in debt instruments and 0 to 50 per cent of its assets in money market. However, the schemes with maturity tenure of above 3 years and up to and including 5 Years will allocate 65 to 100 per cent of its assets in debt instruments and remaining 0 to 35 per cent of assets in money market.