IDFC Mutual Fund (MF) has launched a new fund named IDFC MF Fixed Term Plan Series - 108, a close ended income scheme.
The tenure of the scheme is 1144 days from the date of allotment. The new issue will be open for subscription from 5 May to 7 May 2015.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest upto 20% of its assets in money market instruments (including CBLO) with low to medium risk profile and invest 80% to 100% of its assets in debt securities with medium to high risk profile.
Minimum application amount is Rs. 10,000
Entry load & exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager of the scheme is Anupam Joshi.
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