NFO Period from 14 February to 28 February 2011
IDFC Mutual Fund has announced the launch of IDFC Infrastructure Fund,
an open ended equity scheme. The New Fund Offer (NFO) will be open for
subscription from 14 February 2011 till 28 February 2011. The face value
of the new issue will be Rs 10 per unit.
The investment objective of the scheme is to generate long-term capital
growth through an active diversified portfolio of predominantly equity
and equity related instruments of companies that are participating in
and benefiting from growth in Indian infrastructure and infrastructural
related activities.
The fund is designed to be 'true-to-label'. It defines infrastructure using benchmark definitions of RBI and World Bank.
At the launch of IDFC Infrastructure Fund Mr. Kenneth Andrade, Head - Investments, IDFC Mutual Fund said, "IDFC infra fund has been launched
at a time when we believe that valuations in this sector are very
attractive and there may be huge investment appreciation ahead."
IDFC Infrastructure Fund would allocate 80% to 100% of assets in
equities & equity related securities in companies engaged in
infrastructural and infrastructural related activities with high risk
profile. On the flip side it would allocate upto 20% of assets in debt
and money market instruments with low to medium risk profile.
Under the scheme, investors may choose either the Growth Option or the Dividend Option
The minimum investment amount during the NFO is Rs. 5,000 and the fund manager of the scheme is Mr. Kenneth Andrade.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
The exit load charge will be 1% if redeemed within 365 days from the
date of allotment. No load shall be applicable for switches between
equity schemes of IDFC Mutual Fund and for switches between options of
the schemes.
Benchmark index for the scheme is BSE 200.