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Thursday, May 21, 2009

IDFC Dynamic Equity Fund waits for Sebi's approval

An open ended equity fund

Name of Fund: IDFC Dynamic Equity Fund

Scheme: An open ended equity scheme

Investment Objective: The fund endeavors to generate long-term capital appreciation over market cycles, with lower volatility than the broad market, from a diversified portfolio of long and short positions in predominantly equity and equity-related securities.

Investment Options: The scheme offers two option – Plan A and Plan B with growth and dividend option. The dividend option offers dividend re-investment facility.

Asset Allocation: The fund will invest up to 65%-100% in equity and equity related instruments. It will invest upto 50% in derivatives and 35% in money market instruments and securitised debt.

The scheme shall invest into securitised debt upto 35% of the NAV.

NFO price: Rs 10 per unit

Load structure: For Plan A: The scheme will charge 2.25% of an entry load for the purchase amount less than Rs 5 crore (including by way of SIP /STP) and charges nil for the purchase amount equal to or greater than Rs 5 crore.

The scheme will charge an exit load of 1.00%, for the redemption within 1 year from the date of subscription applying first in first out basis (including by way of SIP /STP). And it will not charge any exit load for the redemption after one year form the date of subscription applying first in firs out basis.

For Plan B: The scheme will not charge any entry load. And the scheme will not charge any exit load for purchases of Rs 5 crore or more, but it will charge 1.00% of an exit load in case of purchase of less than Rs 5 crore if redeemed within 1 year from the date of purchase(s) applying first in first out basis (including by way of SIP /STP).

Minimum Investment Amount: The minimum investment amount under the both plan A and plan B are Rs 5000 per application and in multiples of Re 1 thereafter.

Minimum Target amount: The Fund seeks to collect a minimum targeted amount of Rs 1 crore during NFO.

Benchmark Index: S&P CNX Nifty Index.

Fund Managers: Kenneth Andrade and Arjun Parthasarathy will jointly manage the scheme.

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