IDFC Asset Allocation Fund of Fund files offer document with SEBI

IDFC Mutual Fund has filed an offer document with securities and exchange board of India (SEBI) to launch IDFC Asset Allocation Fund of Fund, an open-ended fund of fund scheme.

The new fund offer (NFO) price for the scheme is Rs.10 per unit.

Investment objective:
The primary investment objective of the scheme is to generate capital appreciation through investment in different mutual fund schemes based on a defined asset allocation model covering both local and offshore assets.

Plans:
The scheme will offer 3 different plans -conservative asset allocation plan (Conservative AA Plan), moderate asset allocation plan (Moderate AA Plan) and aggressive asset allocation plan (Aggressive AA plan) that will offer 3 different risk profiles for investors. Conservative AA Plan will target the lowest risk profile followed by Moderate AA Plan. Aggressive AA will be the highest risk profile asset allocation.
Each plan offers both growth option and dividend option (payout and reinvestment).

Asset allocation:
The Conservative AA Plan will invest 10-15% in equity funds, 45-50% in debt funds, 45-50% in money market funds, 0% in alternate and 0-15% in money market securities.Moderate AA Plan will invest 25-30% in equity funds, 60-70% in debt funds, 0-5% in money market funds, 5-10% in alternate and 0-15% in money market securities.Aggressive AA Plan will invest 45-50% in equity funds, 35-45% in debt funds, 0-5% in money market funds, 10-15% in alternate and 0-15% in money market securities.Alternate - It will consist of allocations to offshore commodity equity funds as well as domestic Gold ETFs.

Minimum application amount: The minimum application amount for all plans (non SIP purchases) is Rs 5,000 and in multiple of Re 1 for purchases and in multiples of Re 0.01 for switches. SIP purchase - Rs 1,000 (subject to minimum of 6 installments of Rs 1,000 each).
Target amount: The fund seeks to collect a minimum subscription amount (plan level) of Rs 10 million under the scheme during the NFO period.

Load structure: The scheme will charge no entry load. But an exit load of 0.25% of the NAV shall be applicable if investors who redeem / switch out such investments within 3 months from the date of subscription applying First in First Out basis, (including investments through SIP/STP).

Benchmark index: The schemes performance would be benchmarked against Crisil MIP Blended Index.

Fund manager: The scheme will be managed by Ashwin Patni.

Source:http://www.myiris.com/newsCentre/storyShow.php?fileR=20090917135234707&dir=2009/09/17&secID=livenews

Mirae Asset launches Mirae Asset China Advantage Fund

Mirae Asset Global Investments has announced the launch of India’s first Pure China Fund, Mirae Asset China Advantage Fund (MACAF), an open-ended fund of funds scheme that will invest predominantly in Mirae Asset China Sector Leader Equity Fund, a SICAV fund domiciled in Luxembourg. The fund will be open for subscription from September 14, 2009 to October 9, 2009.

The scheme seeks to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of overseas funds and units of exchange traded schemes that focus on investing 65-100% in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The scheme may also invest 0-35% of its corpus in debt and money market securities and/or units of debt/liquid schemes of domestic mutual funds, in order to meet liquidity requirements from time to time.

According to Mr. Arindam Ghosh, CEO, Mirae Asset Global Investments (India) Pvt. Ltd., “China is poised to lead the world out of the global slowdown backed by its domestic consumption and stimulus push from the government. We are pleased to launch Mirae Asset China Advantage Fund for the Indian investors, thereby meeting their asset allocation needs. The international fund of funds will provide investors access to one of the world’s growing economies and will enable them to prudently diversify their portfolio”.

According to Mr. Byung Ha Kim (Fund Manager for Mirae Asset China Sector Leader Equity Fund): “The Chinese economy is leading the world on the recovery path. China should maintain its high growth rates in the coming years and even in this scenario, the overall macro risk associated with the country is relatively very low. With Mirae Asset China Advantage Fund, we aim to offer an opportunity to Indian investors to benefit from the growth potential of local Chinese companies”.

The new fund offers a regular plan with dividend (payout & reinvestment) and growth options, with the minimum application amount for the regular option being Rs.5000/- and in multiples of Re.1/- thereafter. The Scheme does not guarantee or assure any returns. The fund would be benchmarked against MSCI China Index (INR terms).

Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/Mirae-Asset-launches-Mirae-Asset-China-Advantage-Fund/articleshow/5021789.cms

IDFC MF lanuches FMP; files offer document with SEBI

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.

Source: http://www.myiris.com/newsCentre/storyShow.php?fileR=20090917143352707&dir=2009/09/17&secID=livenews