Mutual Fund News : IDFC Mutual Fund files offer document for IDFC Floating Rate Fund

Publish Date:

IDFC Mutual Fund has filed offer document with SEBI to launch an open-ended debt scheme named ' IDFC Floating Rate Fund'.

The investment objective of the scheme will be to seek to generate returns by creating a portfolio that is primarily invested in floating rate instruments, including fixed rate instruments swapped for floating returns and other debt and money market instruments.
The performance of the scheme will be benchmarked against NIFTY Low Duration Debt Index.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter. The scheme offers growth and dividend options.
It seeks to collect a Minimum Target Amount of Rs 20 crore.