IDBI MF offers document to launch "IDBI Fixed Maturity Plan - Series III"

IDBI Mutual Fund has filed document with SEBI to launch a new close ended debt scheme named "IDBI Fixed Maturity Plan - Series III"

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. The two options available under the Plan of the Scheme are Growth and Dividend option.

The performance of the scheme will be benchmarked against CRISIL Liquid Fund Index for maturity upto 90 days, CRISIL Short Term Bond Fund Index for the schemes having maturity period between 91 days to 36 months and CRISIL Composite Bond Fund Index for more than 36 months . GautamKaul will be the fund manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met through investing in a portfolio of debt and money market instruments. Hence, the scheme will allocate the asset accordingly.