Mumbai: IDBI Mutual Fund has filed an offer document with SEBI to launch open-ended IDBI India Top 100 Equity Fund.
The fund aims to provide investors with opportunities for long-term growth in capital through active management of a diversified basket of equity stocks, debt and money market instruments.
The investment universe of the scheme will be restricted to equity stocks of companies that are constituents of the S&P CNX Nifty index (Nifty 50) and the CNX Nifty junior indices comprising 100 stocks. These two indices are collectively referred to as the CNX 100 index.
The fund will use a combination of top-down and bottom-up approach for investments.
The fund will be benchmarked against CNX 100 Index. The scheme carries 1% exit load if redeemed before one year. The minimum investment amount is Rs. 5,000 for lump sum and Rs. 500 for SIPs. The fund will be managed by V. Balasubramanian.
