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Tuesday, August 11, 2009

IDFC MF Announces Conversion of SMEF into Open Ended Equity Scheme

With effect from 11 September 2009

IDFC Mutual Fund has decided to convert IDFC - Small & Midcap Equity Fund (SMEF) into an open ended equity scheme, with effect from 11 September 2009 (after cut-off) i.e. preponing the subscriptions/ continuous offer period. As per the terms of offer document/ scheme information document, the scheme will mature in March 2011 and the scheme would be open ended for subscriptions / continuous offer period.

In case the investor does not wish to continue to hold units in view of the said changes, the investor will have the option to exit the scheme at prevailing NAV (NAV to be released every Wednesday). No exit load shall be charged for redemption's. The exit option will not be available to unit holders whose units have been pledged. The exit option can be availed between 13 August 2009 to 11 September 2009 (both days inclusive). During the period the un-amortized portion of the initial issue expenses shall be borne by the investors. All transaction request received on / after 11 September 2009 cut off time will be subject to the prevailing load structure as applicable in the respective scheme/plans and will not qualify for the waiver of the exit load.

IDFC - Small & Midcap Equity Fund, has the investment objective to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The scheme will predominantly invest in small and madcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The scheme may also invest in stocks other than mid cap stocks and derivatives.

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