IDFC Mutual Fund (MF) has launched the IDFC US Equity Fund of Fund, an open-ended fund of fund scheme investing in units/shares of overseas Mutual Fund Scheme (/s) / Exchange Traded Fund (/s) investing in US Equity securities. The NFO opens for subscription on July 29, 2021, and closes on August 12, 2021. The Entry load is not applicable for the scheme. The Exit load will be 1% of applicable NAV- if the units are redeemed/switched out within 1 year from the date of allotment and nil- if the units are redeemed / switched-out after 1 year from the date of allotment. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The performance of the Scheme will be benchmarked to Russell 1000 Growth Index (Total Return Net of 30% withholding tax) and its fund manager is Viraj Kulkarni.
The investment objective of the scheme is to generate long-term capital appreciation by investing in units of overseas mutual fund scheme or exchange-traded fund investing in US equity securities.