OptiMix Financial Planning Multi Manager Fund of Funds Scheme is an open-ended FoF scheme consisting of six plans that shall invest in a diverse capitalisation range of equity funds, liquid funds, money market funds and debt funds (including income funds, gilt funds, floating rate funds, short-term funds, fixed maturity plans).
The primary objective is to provide long-term capital appreciation from a combined portfolio of equity and debt funds and money market securities.
There are six plans demarcated on the basis of equity allocation: Plan A (0-20 per cent equity), Plan B (0-30 per cent), Plan C (0-40 per cent), Plan D (0-50 per cent), Plan E (0-60 per cent) and Plan F (0-65 per cent). The balance will be allocated to debt. Money market securities in all the schemes will range from 0-10 per cent.
Each plan has a different entry load: 1 per cent (Plan A), 1.25 per cent (Plan B), 1.5 per cent (Plan C), 1.75 per cent (Plan D), 2 per cent (Plan E) and 2.25 per cent (Plan F). Applications above Rs 5 crore have no entry load.
The exit load for all plans is 1 per cent up to three years from date of allotment.
The benchmark stays constant for the various schemes but the weightage varies.
Unit cost during NFO: Rs 10
Offer opened: October 30, 2006
Offer closes: November 28, 2006
Type of fund: Open-ended FoF scheme
Options: Dividend (reinvestment and payout), Growth
Minimum application amount: Rs 5,000