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Change in Fundamental Attributes under IDFC Monthly Income Plan

IDFC Mutual Fund has announced the change in the fundamental attributes of IDFC Monthly Income Plan which was earlier known as a Fund of Fund Scheme, will now be categorized as an Monthly Income Plan with immediate effect.
Investment Objective:
The Primary objective of scheme is to generate regular returns through investment primarily in debt securities. The secondary objective is to generate long term capital appreciation by investing a portion of the scheme’s assets in equity securities. Monthly income is not assumed and the same is subject to availability of distributable surplus. Proposed Asset Allocation Pattern:
The scheme will invest between 65 to 100% in debt securities (including securities debt). It may also invest up to 25% and 15% in equity & equity related instruments and money market instruments. Exit Load:
The new exit load is 1% of the NAV if redeemed/ switch out of such investments with in one year (365 days) from the date of subscription applying first in first out basis, including investments through SIP/STP. Minimum Application Amount:
The minimum application amount for purchase (non SIP) will be Rs. 5000/- and in multiples of Re. 1/- for purchases and in multiples of Re. 0.01 for switch-ins.