IIFL Mutual Fund has filed offer document with Sebi to launch IIFL Balanced Fund, an open ended balanced scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: The fund seeks to generate stable returns by striking a balance between long-term growth and current income through a diversified strategy of investment across equity and fixed income securities.
Plans/ option(s): Growth, Bonus and dividend (payout & re-investment) options under both regular plan and direct plan.
Benchmark: CRISIL Balanced Fund Index
Loads: Nil
Minimum Application Amount: Rs.5,000 and in multiples of Rs 100 thereafter.
Minimum Target Amount: Rs 20 crore
Asset Allocation: The scheme shall invest 65-80% in equity or equity related instruments and 20-35% in debt and money market instruments.
Fund Manager: Manish Bandi