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Wednesday, February 24, 2010

IDFC Capital Protection Oriented Fund – Series I Floats On

NFO Period from 24 February to 24 March 2010 

IDFC Mutual Fund has launched a new fund named as IDFC Capital Protection Oriented Fund – Series I, a three year close ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 24 February and closes on 24 March 2010.

The investment objective of the scheme is to protect the capital 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.

The scheme offers dividend and growth option.

The scheme would allocate up to 16% of assets in equities & equity related securities with high risk profile. It would further allocate 84% to 100% of assets in debt securities & money market instruments (of which up to 30% would be in securitized instruments) with low to medium risk profile. Equity Derivatives (futures and options) may be used in place of cash equities with the condition that the total notional exposure together with the investments in equities will not exceed the allocation of the corpus towards equity investments at any point of time.

The minimum investment amount is Rs 5,000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.

Entry and entry load charge shall be nil for the scheme.

The Scheme's performance will be benchmarked against CRISIL MIP Blended Index. 

Ashwin Patni will be the fund manager for the scheme.
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