Mumbai: IDBI Sensex Fund is to be an open ended equity scheme tracking the BSE Sensex.
The investment objective of the scheme is to invest in the stocks and equity related instruments comprising the Sensex in the same weights as these stocks represented in the Index with the intent to replicate the performance of the Total Returns Index of the Sensex. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Sensex and the scheme. The scheme will invest 95 to 100 per cent in stocks in Sensex and derivative instruments linked to the Sensex with medium to high risk profile. It would further invest upto 5 per cent in cash and money market instruments including money at call (but excluding subscription and redemption cash flow) with low to medium risk profile
The scheme will managed by Syed Sagheer. It will benchmark against BSE Sensex.
