IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan - Quarterly Series - 64, a close ended income scheme with the duration of one quarter that shall mature on 15 December 2011. The new issue will be open for subscription on 9 September 2011 and closes subscription on 12 September 2011.
IDFC Fixed Maturity Plan - Quarterly Series - 64 seeks to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option.
The scheme will allocate upto 100% of assets in debt and money market instruments with low to medium risk profile. Investments in securitized debt, derivatives, foreign securities and stock lending would be nil.
The minimum application amount is Rs 10000 and in multiples of Rs 10.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Liquid Fund Index.
The scheme will be managed by Anupam Joshi.
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