IDFC Mutual Fund has filed an offer document with SEBI to launch its open ended IDFC Balanced Fund which aims at generating long term capital appreciation and current income from a portfolio that is invested in equity and equity related securities as well as in fixed income securities. The exposure to equity will be in the range of 40%-75% while investments in debt and money market instruments will be 25% to 60%.
The minimum application amount is Rs.5,000 and additional investments can be made in multiples of Rs1.
An exit load of 1% will be charged if the investment is withdrawn or switched before one year from the date of allotment.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.
Suyash Choudhary and Kenneth Andrade will be the joint fund managers for IDFC Balanced Fund.
The scheme comes with growth, dividend, and dividend reinvestment facility. The performance of the scheme will be benchmarked against Crisil Balanced Fund Index.
