IDFC Mutual Fund has filed an offer document with securities and exchange board of India (SEBI) to launch IDFC Fixed Maturity Plan (FMP) Quarterly Series 55 - 57, Half Yearly Series 9 - 11 and Nineteen months Series 2, a close-ended income scheme.
The new fund offer (NFO) price for the scheme is Rs10 per unit.
Investment objective:The primary investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized.
Plans:
IDFC Fixed Maturity Plan - Quarterly Series 55 - 57 (Plan A)
IDFC Fixed Maturity Plan - Half Yearly Series 9 - 11 (Plan A)
IDFC Fixed Maturity Plan - Nineteen months Series 2 (Plan A & B)
The plans will have both growth and dividend option.
Structure: Close Ended Income scheme with 2 plans (Plan A & B) under IDFC Fixed Maturity Plan - Nineteen months Series 2 and one plan (Plan A) under IDFC Fixed Maturity Plan - Quarterly Series 55 - 57, IDFC Fixed Maturity Plan - HalfYearly Series 9 - 11.
The schemes have following duration:
1) IDFC Fixed Maturity Plan - Quarterly Series with duration of Three Months
2) IDFC Fixed Maturity Plan - Half yearly Series with duration of Six Months
3) IDFC Fixed Maturity Plan -Nineteen Months Series with duration of Nineteen Months.
Minimum application amount:The minimum application amount for IDFC FMP - QS - 55 -57 & IDFC FMP - HS - 9-11 Plan A is Rs 25000 and multiples of Re 1and IDFC FMP - 19 mts - 2 Plan A is Rs 5000 and multiples of Re 1 and Plan B - Rs 25 lakhs and multiples of Re 1.
Asset allocation:The scheme will invest 0-100% in debt and money market. Investment in securitized debt will be up to 50% of net assets of the plan(s). Investments in derivatives, foreign securities and stock lending will be nil.
Target amount:The fund seeks to collect a minimum subscription amount of Rs 10 million under the scheme during the NFO period.
Load structure: The scheme will charge no entry and exit load.
Benchmark index:The schemes performance would be benchmarked against Crisil Composite Bond Fund Index.
Fund manager:The scheme will be managed by Anupam Joshi.
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