IDFC Mutual Fund has launched a new fund named IDFC Fixed Maturity Plan Series - 1, a close ended income scheme. The scheme with the duration of 36 months shall mature on 20 August 2015.
IDFC Fixed Maturity Plan Series - 1 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. Dividend option offers monthly, quarterly and half yearly dividend options.
Allocation of Funds:
The scheme will allocate upto 50% of assets in money market instruments (including CBLO) with low to medium risk profile. On the other side it would allocate 50% to 100% of assets in debt securities with medium to high risk profile. Investments in securitized debt, derivatives, foreign securities and stock lending would be nil.
100% of assets would be invested in AA rated non convertible debentures.
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.
NFO Opens: August 10, 2012
NFO Closes: August 16, 2012
NFO: Rs 10 per unit
Minimum Application Amount: Rs 10000 and in multiples of Rs 10.
Benchmark: Crisil Short Term Bond Fund Index.
Manager: Anupam Joshi.