IDFC Infrastructure Fund files offer document with Sebi

IDFC Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch IDFC Infrastructure Fund, an open ended equity fund. The new fund offer (NFO) price for the scheme will be Rs 10 per unit.

The investment objective of the scheme is to seek to generate long-term capital growth through an active diversified portfolio of predominantly equity and equity related instruments of companies that are participating in and benefiting from growth in Indian infrastructure and infrastructural related activities.

The scheme shall offer growth and dividend option.

The scheme would allocate 65% to 100% of assets in equity & equity related securities in companies engaged in infrastructural and infrastructural related activities, upto 35% of assets in debt & money market instruments and upto 35% of assets in securitised debt instruments.

Entry load will be nil for the scheme. Exit load charge will be 1% if redeemed within 365 days from the date of allotment/investment.

Minimum application amount will be Rs 5000.

The minimum subscription (target) amount of Rs 1 crore is expected to be raised during the NFO period.

The scheme's performance will be benchmarked against FTSE-IDFC India Infrastructure index.

The fund manager of the scheme will be Mr. Kenneth Andrade.

Source: http://www.apollosindhoori.cmlinks.com/MutualFund/MFSnapShot.aspx?opt=9&SecId=10&SubSecId=22,24#

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