IDFC India Consumption 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 India Consumption 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 generate capital appreciation by investments in a diversified portfolio of equity and equity related securities, which are likely to benefit by increasing consumption demand in India.

The scheme shall offer growth and dividend option. Reinvestment facility is also available under the dividend option

The scheme would allocate 65% to 100% of assets in equity & equity related securities. Atleast 95% of investments in equity and equity related securities shall be in companies engaged in consumption related sectors. It would further allocate upto 35% of assets in debt & money market 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 BSE 200.

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

Source: http://www.bloombergutv.com/stock-market/mutual-fund/commentary/407648/idfc-india-consumption-fund-files-offer-document-with-sebi.html  

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