IDFC Fixed Maturity Plan - Yearly Series - 45 Floats on

Posted By: Religare
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IDFC FMP: Yearly Series
IDFC Mutual Fund launched new scheme named as IDFC Fixed Maturity Plan - Yearly Series - 45. The scheme is a close ended income scheme, having the time duration of 370 days from the date of allotment of units. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.

Entry and exit load will be nil for the Plan and no redemption/repurchase of units shall be allowed prior to the maturity of the scheme. Investors wishing to exit may do so through stock exchange mode. The performance of scheme will be standardized against Crisil Short Term Bond Fund Index. The two options are available under the Plan of the Scheme viz. growth and Dividend payout option. Dividend Payout is the only facility available under the Dividend Option. The minimum application amount is Rs 10,000 and in multiples of Rs 10 thereafter. Mr. Anupam Joshi will be the Fund Manager for the scheme.

The asset allocation of scheme will be in such a way that the objective of the schemes to generate income will be met with the investment in a wide range of portfolio of fixed income securities. Hence schemes would allocate 100% of its assets in Debt securities & money market instruments. The Investment in Securitized Debt, derivatives, foreign securities and stock lending will be nil.

Read more about: mutual funds, fmp, investment
Story first published: Tuesday, August 2, 2011, 9:31 [IST]
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