IDFC Mutual Fund files offers document for Nifty 100 Index Fund
IDFC Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ‘IDFC Nifty 100 Index Fund'. The New Fund Offer price is Rs 10. Entry load and Exit load will be nil. The Scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by Nifty 100 TRI. The minimum application amount is Rs 5,000 per application and in multiples of Re 1 thereafter.
The investment objective of the scheme is to replicate the Nifty 100 index by investing in securities of the Nifty 100 Index in the same roportion / weightage with an aim to provide returns before expenses that closely correspond to the total return of Nifty 100 Index, subject to tracking errors.
