IDBI Mutual Fund launched a new close ended debt scheme named “IDBI Fixed Maturity Plan - 369 Days Series II (February 2012) – C”, with maturity time of 369 days.
The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription on February 21 and will close today.
According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount was Rs 5,000 and in multiples of Rs.1 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.
The performance of the scheme will be standardized against Crisil Short Term Bond Fund index and Gautam Kaul will be the Fund Manager of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met, through investments in debt and money market instruments. Hence, the scheme will allocate 0 to 100 per cent of assets in money market instruments and debt instruments including government securities, floating rate debt instruments, and securitized debt.