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Thursday, May 28, 2009

IDFC Hybrid Portfolio Fund - Series I waits for Sebi's approval

It is a close ended debt scheme

IDFC Mutual Fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch IDFC Hybrid Portfolio Fund - Series I. It is a close-ended debt scheme. The New Fund offer price will be Rs 10 per unit.

Details of the Scheme:

Investment Objective: The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective.

Plans: There are two sub plans: Plan A and Plan B with growth and dividend option.

Asset Allocation: The plans will invest 50-100% of net asset in debt securities and money market instruments. It may invest up to 50% of net assets of the plan in equities & equity related securities. Investment in securitized debt shall be up to 50% of net assets of the scheme. Investments in foreign securities will be up to 50% of the net assets. The fund will take exposure of 100% of net asset exposure in derivatives. Investment in Derivatives - Upto 100% of the Net Assets of the scheme.

Load Structure: The scheme may charge an entry load of 2.00%. The scheme will not charge an exit load.

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.

Minimum Investment Amount: The minimum application amount under Plan A is Rs 5000 and multiples of Re 1 thereafter. Under Plan B, the minimum investment amount will be Rs 1 crore and in multiples of Re 1 thereafter.

Minimum Target amount: The fund seeks to collect a minimum subscription amount of Rs 1 crore under each series during NFO.

Benchmark Index: CRISIL MIP Blended Index.

Fund Managers: Kenneth Andrade & Arjun Parthasarathy will manage the fund.

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