Publish Date:
IDFC Mutual Fund has introduced a new scheme – IDFC Midcap Fund
It is an open-ended equity scheme predominantly investing in mid cap stocks.
The Fund seeks to generate long term capital appreciation by investing predominantly in equities and equity linked securities of mid cap segment. There is no assurance or guarantee that the objectives of the scheme will be realised.
Under normal circumstances, IDFC Midcap Fund will hold an allocation of 65% to 100% of its assets in Equity and equity related instruments of Mid Cap companies, 0% to 35% in Equity and equity related instruments of other than Mid Cap companies, 0% to 25% in Overseas securities and 0% to 5% in Debt Securities and Money Market Instruments (including Government securities, securitised debt).
As per the Scheme Information Document, the investment strategy is to capture opportunities available in the mid-cap segment. The emphasis would be on identifying high-quality companies in the mid-cap segment with better growth prospects, sound corporate management, and favourable risk-reward from a medium to long-term perspective.
In selecting specific stocks, the fund manager will consider and evaluate amongst various criteria net worth, sustainable business models, consistent growth, strong cash flows, sound professional management, track record, industry scenario, growth prospects, market liquidity of the securities, etc.
IDFC Midcap Fund’s performance will be benchmarked against S&P BSE 150 Midcap Index
The fund will be managed by Mr Sachin Relekar (equity portion), Mr Harshal Joshi (debt portion) and Ms Nishita Doshi (overseas investments).
The NFO opens for subscription on July 28, 2022 and closes on August 11, 2022. The scheme will reopen for continuous sale and repurchase Within 5 business days from the date of allotment of units.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal option.