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IDFC Mutual Introduces Dividend Sweep Option under its Equity Schemes

IDFC Mutual Fund has introduced Dividend Sweep Option in its equity schemes, with effect from March 17, 2011.

Under the dividend sweep option, the investors can instruct the AMC to transfer the amount of dividend declared under the equity scheme to the desired debt scheme. However, if the amount of dividend is less then Rs 1, the dividend shall be re-invested in the same scheme and not transferred to the desired debt scheme.