IDFC Floating Rate Fund Details
IDFC is also known as Infrastructure Development Finance Company. The IDFC Mutual Fund remains plans to launch a new fund offer. The NFO will open for subscription on Feb 10th, 2021. The name of the NFO is IDFC Floating Rate Fund The scheme is suitable for investors who seek to generate short-term optimal returns.
Further, the scheme will close for subscription on 16th February 2021. It is an open-ended debt scheme. Moreover, the scheme will reopen for subscription on 21st Feb 2021.
During the NFO, the units will be offered at a price of Rs. 1,000 per Unit and the continuous purchases will be at Applicable NAV.
Basic Details of NFO:
|NFO Name||IDFC Floating Rate Fund|
|Subscription Period||Feb 10th, 2021 – Feb 21st, 2021|
|NFO Type||Open-ended debt scheme|
|Benchmark||Crisil Liquid Fund Index|
The scheme offers regular and direct plans under the dividend and growth option.
The object of the scheme:
The fund aims to generate returns by creating a portfolio that is substantially invested in floating rate instruments, fixed-rate instruments swapped for floating returns, fixed-rate instruments, and money market instruments.
The minimum investment for fresh purchase (including switch-in) is Rs. 5,000/- and any amount thereafter. Moreover, additional purchases (including switch-in) stood at Rs. 1,000/- and any amount thereafter.
Redemption: Rs. 500/- and any amount thereafter. If the balance in the Folio/Account available for redemption is less than the minimum amount prescribed above, the entire balance available for redemption will be redeemed.
- SIP: Rs. 1,000/- and in multiples of Re.1 thereafter [minimum 6 installments]
- STP (in): Rs. 1,000/- and any amount thereafter
- SWP: Rs. 500/- and in multiples of Re.1 thereafter
Moreover, the entry load is not applicable to the scheme. But, the exit load stood at 0.25% if redeemed/switched out within 1 month.
|Instruments||Indicative Allocation (as % of total assets)||Risk Profile|
|Floating rate debt instruments, fixed-rate debt instruments converted to floating exposures using swaps/ derivatives, and money market instruments||65%||100%||Low to Medium|
|Fixed-rate debt instruments, including floating rate debt instruments swapped for fixed-rate returns and Units issued by REITs & InvITs, within which||0%||35%||Low to Medium|
|Units issued by REITs & InvITs||0%||10%||Medium to High|
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.