IDFC Mutual Fund converts IDFC
monthly income plan into monthly income scheme from fund of fund scheme
Mumbai: IDFC Mutual Fund
has decided to change its IDFC Monthly Income Plan (a fund of
fund scheme) to a Monthly Income Plan with
effect from August 31, 2011.
After conversion of the
schemes, the scheme’s salient features will
change into the following:
Scheme Objective: The primary objective of the scheme is to generate regular returns
through investment primarily in debt securities. The secondary objective of the
scheme is to generate long-term capital appreciation by investing a portion of
the scheme's assets in equity securities.
Asset Allocation Pattern: The
scheme has the proposed asset allocation pattern to invest 65 to 100 per cent
of assets in debt securities with high risk profile. It would further invest 25
per cent of the assets in equity and equity related securities with high risk
profile. It also invests 15 per cent of assets in money market instruments with
low to medium risk profile.
Minimum Application
Amount: Rs. 5000 in multiples of Re 1
Exit Load: The scheme will charge 1
per cent of exit load if units were redeemed within 365 days from the date of allotment.
Investors, who do not agree with the revision, have an option to redeem or switch their units between August 1, 2011 and August 30, 2011.
