IDFC Mutual Fund has filed an offer document with SEBI to launch IDFC Fixed Term Plan Series - 1, 2, 3, 4, 5 & 6, a close ended income scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of each plan under the scheme. The scheme will allocate 100% of its total assets to debt and money market
The scheme will offer growth and dividend options. The dividend options will come with monthly, quarterly and half yearly dividend options. The minimum application amount will be Rs.10000.
The benchmark index for the scheme would be CRISIL Liquid Fund Index for plans having maturity of up to 3 months, CRISIL Short-Term Bond Fund Index for plans having maturity of more than 3 months up to 36 months and CRISIL Composite Bond Fund Index for plans having maturity of more than 3 months up to 60 months.
The fund will be managed by Anupam Joshi, who also manages many other schemes of IDFC Mutual Fund.
