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Monday, February 02, 2009

IDFC India GDP Growth Fund floats on

NFO period from 28 January-26 February 2009

IDFC Mutual Fund has launched IDFC India GDP Growth Fund, an open-ended equity scheme. The scheme has opened for fresh subscription on 28 January and closes on 26 February 2009. The India GDP Growth Fund will reopen for continuous sale and repurchase on 12 March 2009. The units of the scheme will be available at Rs 10 per unit.

Features of IDFC India GDP Growth Fund

Investment Objective: IDFC India GDP Growth Fund seeks to generate long-term capital appreciation by investing in equity and equity related instruments. The scheme aims to capture the growth in India's Gross Domestic Product (GDP). The scheme would endeavour to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt and money market instruments.

Investment Options: The scheme offers growth option and dividend option. The dividend option shall have reinvestment facility.

Load structure: The scheme will charge an entry load of 2.25% for the investment amount less than Rs 5 crore. It will not charge any entry load for Rs 5 crore and more.

The fund will ask 1% exit load for redemption within 1 year from the date of subscription applying first in first out basis. Redemption done after 1 year from the date of subscription applying First in First Out basis, no exit load will be charged.

Minimum application amount: The minimum application amount is Rs 5000 and in multiples Re 1 thereafter.

Asset Allocation: The scheme aims at investing 65-100% in equity and equity related instruments comprising of the companies representing the constituents of the GDP. It will have investment exposure up to 35% in debt and money market instruments. Investment in derivatives shall be up to 50% of net asset.

Investments in securities lending will be up to 35% of the net assets of the scheme. Investment exposure in foreign debt instruments shall be up to 35% of the net assets of the scheme. The fund will invest up to 50% of the net assets in investments in ADRs and GDRs issued by Companies in India.

Benchmark Index: The performance of the scheme will be measured against BSE 500 index.

Fund manager: Ajay Bodke will manage the investments under IDFC India GDP Growth Fund.

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