This is a close-ended fund with a maturity of three years. The minimum investment amount is Rs 5,000 and no SIP facility is available.
The scheme seeks to provide long-term capital appreciation by investing in predominantly equity and equity related instruments of mid-cap companies. Mid Cap universe will constitute all those companies which have a market capitalisation of less than the last stock of S&P CNX Nifty and more than 5% of the market capitalisation of the last stock of the S&P CNX Nifty. The market capitalisation will be reviewed on a quarterly basis and the portfolio will be rebalanced accordingly within one month from the date of review.
The equity component will range between 65% - 100% of the portfolio while debt and money market instruments will be in the 0% - 35% range. From the equity component, mid-cap companies will comprise 65%-100% of the portfolio while other companies will range between 0% - 35%.
The fund will use the bottom-up approach to select stocks and would restrict the number in the portfolio to 20-50 stocks.
Units will be redeemed on the maturity of the scheme. For redemptions prior to that, the specified date for redemption shall commence on the first business day of each month after the date of allotment. The scheme will remain open for redemption for a period of 5 business days starting from the first business day of each month after the date of allotment.
Fund opens: February 15, 2007
Fund closes: March 15, 2007
Cost per unit: Rs 10
Fund manager: Tridib Pathak
Minimum amount: Rs 5,000
Options: Growth, dividend payout, dividend reinvestment
Benchmark: CNX MIDCAP Index
SIP facility: Not available
Entry load: Nil
Exit load: Nil. But if redeemed before maturity, investors will be charged the proportionate unamortized issue expenses.