IDFC Mutual Fund has announced a change in fundamental attributes under IDFC Savings Advantage Fund.
Following are the revised provisions:
Name: IDFC Liquid Fund
Type of Scheme: Open Ended Liquid Fund
Investment Objective: The objective is to generate optimal return with high liquidity by investing in high quality money market and debt instruments.
Asset Allocation: Money market instruments and debt instruments with maturity up to 91 days - 0 to 100%. Investment in securitized debt up to 50%. Investment in foreign debt instruments up to 50%.
Load Structure: Entry and exit load charge will be nil.
Minimum Application Amount: Rs 5000 and in multiples of Rs 1in Plan A and F and Rs 500 and in multiples of Rs 1in Plan D.
Investors who want to exit from the scheme can redeem their units from April 22, 2011 to May 21, 2011 without paying any exit load.
IDFC Mutual Fund has also announced introduction of Systematic Transfer Plan (STP), Systematic Withdrawal Plan (SWP) and Systematic Investment Plan (SIP) facilities under IDFC Liquid Fund.