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Equity | News | Mutual Fund News
Mutual Fund News
IDBI Dividend Yield Fund Floats On
(09:46, 03 Dec 2018)
IDBI Mutual Fund has launched a new fund named as IDBI Dividend Yield Fund, an open ended equity scheme predominantly investing in dividend yielding stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 December to 17 December 2018.

The Investment objective of the Scheme is to provide long term capital appreciation and/or dividend distribution by investing predominantly in dividend yielding equity and equity related instruments.

The scheme offers regular plan and direct plan for investment. Both plans offer growth option and dividend option. Dividend option offers facility for payout/ reinvestment/sweep of dividend.

The scheme would allocate 65%-100% of assets in equity and equity related instruments of dividend yielding companies with high risk profile, invest upto 35% of assets would be allocated to equity and equity related instruments of dividend yielding companies with high risk profile, invest upto 35% of assets would be allocated to debt & money market instruments with low to medium risk profile and invest upto 10% of asset would be Units issued by Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) with medium to high risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.

The minimum additional purchase amount is Rs 1000 and in multiples of Re. 1/- thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Not Applicable

Exit load: If units of the Scheme are redeemed or switched out up to 10% of the units (the limit) within 12 months from the date of allotment - Nil.

If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment - 1% of the applicable NAV.

If units of the scheme are redeemed or switched out after 12 months from the date of allotment - Nil

Benchmark Index for the scheme is Nifty Dividend Opportunities 50 - Total Returns Index (TRI).

The fund manager of the scheme is Ashish Mishra.

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