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Thursday, September 17, 2009

IDFC MF announces change in minimum application amount

With effect from 17 September 2009

IDFC Mutual Fund has announced change in minimum application amount under the systematic investment plan (SIP) facility of IDFC Small and Mid Cap Fund (IDFC SME Fund) with effect from 17 September 2009. The changes are:

Currently the minimum application amount for each installment under the SIP facility is Rs 500. With effect from 17 September 2009 the minimum application amount shall be changed to Rs 1000 per installment.

Further, weekly and fortnightly SIP facility will be introduced with effect from 17 September 2009. the minimum number of installments shall be six. Frequency details are:

SIP/STP weekly: 7th, 14th, 21st and 28th of the month

SIP/STP fortnightly: 1st and 16th of the month

All the other features i.e. load structure, applicable NAV etc shall remain the same as set out in the offer document/scheme information document of IDFC SME Fund.

The investment objective of the scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The scheme will predominantly invest in small and midcap 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 stock other than madcap stocks (i.e. in stocks, which have a market capitalization of above the market capitalization range of the defined small madcap stocks) and derivatives. On defensive consideration, the scheme may also invest in debt and money market instruments.

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