IDFC Mutual Fund has announced that units of IDFC Premier Equity Fund shall be available for subscription with effect from March 31, 2011. Units will be available at the applicable NAV.
The scheme states that it would be open to investors for subscription during periods when the fund managers feel that the stocks are reasonably valued. It will close subscription, once it has collected a predetermined “manageable” corpus, which will be decided by the fund manager of the scheme depending on the available investment opportunities in the stock market. The last time the fund manager decided not to take any fresh subscriptions was in February 2010. The scheme had closed for subscription on February 27, 2010, while the subscriptions by the way of SIP and STP continued during this period.