IIFL MF launches "IIFL Dynamic Bond Fund"; NFO to close on June 17

IIFL Mutual Fund has launched a new open ended income scheme named "IIFL Dynamic Bond Fund"

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on June 17, 2013.

According to the offer document filed with SEBI, the entry load is nil while exit load of 0.50 per cent will be charged if the scheme is redeemed within 6 months from the date of allotment.

The minimum application amount is Rs 10000 and in multiples of Rs 100 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 Composite Bond Fund Index. Rahul Aggarwal 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 and long term gains will be met through investment in a diversified portfolio of debt and money market instruments. Hence, the scheme will allocate 0 to 100 per cent of asset in debt market instruments, and 0 to100 per cent in money market instruments.

Read more about: iifl, nfo
Story first published: Thursday, June 6, 2013, 13:31 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?