IDFC has notified that effective March 3, 2010, IDFC Liquid Fund shall be renamed as IDFC Saving Advantage Fund (an open ended Income fund). Consequently, the revised fundamental attributes of the fund shall be as follows:
According to the revised asset allocation pattern, the fund will invest minimum 65 per cent of its assets in money market instruments, upto 35 per cent in debt instruments with maturity up to 365 days and upto 10 per cent in debt instrument with maturities between 1-3 years. Upto 35 per cent of its assets can also be invested in Securitized instrument.
Entry Load: Nil
Exit Load: NIL
The change, being fundamental in nature, requires that the investors be given an option to exit the scheme without any exit load. Accordingly, the existing investors in the aforesaid scheme can exit at anytime between February 1, 2010 -March 2, 2010 (both days inclusive) without being charged any exit load.
By following a low risk strategy to generate stable returns with liquidity, the fund will seek to provide an avenue for short term savings.