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IDFC to merge two schemes into IDFC Classic Equity Fund

IDFC Mutual Fund announced to merge IDFC India GDP Growth Fund and IDFC Strategic Sector Equity Fund into IDFC Classic Equity Fund, effective November 8, 2013.

The fundamental attributes of surviving scheme IDFC CEF will remain unchanged. In case investors do not wish to continue to hold units in the schemes, they can exit from October 10, 2013 to November 8, 2013 without any exit load.

The fund house also changed the minimum application amount and load structure of IDFC All Seasons Bond Fund. The minimum application amount has been revised to Rs 5,000 from the previous Rs 24,000. The exit load of the scheme has been revised to 0.50 per cent on redemptions within 3 months. The scheme earlier charged load at 1 per cent on redemptions within a year.