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Read more about: mutual funds idfc debt income

IDFC Monthly Income Plan announces change in its scheme


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

Story first published: Monday, July 25, 2011, 16:51 [IST]
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