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IDBI India Top 100 Equity Fund(G)

IDBI India Top 100 Equity Fund(G)
Dividend Yearly
NA
Category
Equity - Large Cap
52-week NAV high
24.84  (As on 31-08-2018)
52-week NAV low
20.82  (As on 26-10-2018)
Expense
2.53%  (As on 31-01-2019)

Performance

1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns 5.95 3.53 2.17 3.66 5.34 9.18 4.37 12.19 -
Scheme Details
Fund Type
Open Ended
Investment Plan
Growth
Bonus
NA
Launch Date
May 15, 2012
Last Dividend
NA
Minimum Investment
5000

IDBI Mutual Fund was established in 2000 and is sponsored by IDBI Bank. IDBI Asset Management Ltd. is the asset manager of IDBI Mutual Fund and IDBI MF Trustee Company Ltd. is its trustee. The fund house offers 20 schemes across the asset categories - equity, debt, gold, and hybrid.

The IDBI India Top 100 Equity Fund - Growth is an open-ended equity scheme that majorly invests in stocks of companies with large market capitalisation. The growth option of the scheme is ideal for investors whose intention is to grow their capital over a long term.

Investment Objective

To offers investors with an opportunity to appreciate their investments over a long term through investments in equity and its related securities of large cap firms.

Key Features of the Scheme

The IDBI India Top 100 Equity Fund is suitable for investors who wish to achieve capital appreciation over a long term and exhibits the below features:

Type of fund

An open-ended equity scheme

Plans available

Growth and Dividend

Options under each plan

Under the Dividend option, the scheme offers Dividend Payout, Dividend Reinvestment, and Dividend Sweep option

Risk

Moderately High

Systematic Investment Plan

Available

Systematic Transfer Plan

Available

Systematic Withdrawal Plan

Available

Investment amount for IDBI India Top 100 Equity Fund

Minimum Application Amount

Rs.5,000 and in multiples of Re.1 thereafter

Minimum Additional Investment

Rs.1,000 and in multiples of Re.1 thereafter

Minimum installment for Systematic Investment Plan (SIP)

Monthly - Rs.500 and in multiples of Re.1 thereafter for a minimum of 1 year, Rs.1,000 and in multiples of Re.1 thereafter for at least 6 months.

Quarterly - Rs.1,500 and in multiples of Re.1 per quarter thereafter for at least 4 quarters

Minimum installment for Systematic Withdrawal Plan (SWP)

Rs.1,000 and in multiples of Re.1 thereafter for a minimum of 6 months

Entry Load

Not Applicable

Exit Load

1% exit load will be charged if investor exits 12 months before the unit allotment date

Asset Allocation for IDBI India Top 100 Equity Fund

Instruments

Percentage of total assets

Risk Profile

Minimum

Maximum

Equities and its related securities of large cap firms

80%

100%

High

Equities and its related securities of firms other than large cap firms

0%

20%

High

Money market and debt securities

0%

20%

Low to Medium

Units issued by Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs)

0%

10%

Medium to High

Who can invest in IDBI India Top 100 Equity Fund?

Subscription to units of IDBI India Top 100 Equity Fund can be made by the below-mentioned persons/entities:

  • Adult individuals residing in India, either singly or jointly (cannot exceed 3 individuals)
  • Hindu Undivided Families through Karta
  • Minors through a legal guardian or parent
  • Persons of Indian Origin (PIO)/Non-Resident Indians (NRIs), on repatriation or non-repatriation basis
  • Corporate bodies and companies registered in India
  • Limited Liability Partnerships and Partnership firms
  • Association of Persons or Body of Individuals
  • Financial institutions and banks (including Regional Rural Banks and Co-operative Banks)
  • Scientific and Industrial Research Organisations
  • Religious and Charitable Trusts, Wakfs or endowments of private trusts
  • Army, Navy, Air Force, and other paramilitary funds
  • Proprietorship in the name of the sole proprietor
  • International Multilateral Agencies approved by the RBI and Government of India
  • Mutual fund schemes registered with SEBI (Securities and Exchange Board of India)
  • SEBI registered Foreign Portfolio Investor
  • Universities and educational institutions
  • Pensions/Gratuity/Provident Fund to a permissible extent
  • AMC/Trustee or Sponsor or their associates

NAV Disclosure and Benchmark for IDBI India Top 100 Equity Fund

The scheme’s Net Asset Value (NAV) is the value per unit of the scheme on a particular day. Investors can determine the value of their investments by multiplying the unit balance with the scheme’s NAV. The NAV of the scheme will be declared every business day on the website of AMFI (www.amfiindia.com) and IDBI Mutual Fund (www.idbimutual.co.in) by 9:00 p.m.

Liquidity: Being an open-ended scheme, units can be redeemed/switched out at applicable NAVs on all business days.

Benchmark: Nifty 100 Total Return Index

Fund Manager

Ms. Uma Venkatraman

The IDBI India Top 100 Fund is managed by Ms. Uma Venkatraman and she has been managing the scheme since 5 September 2017. She has 15 years of experience in the finance domain and before becoming a fund manager, she headed the research segment in IDBI Mutual Fund. The other funds managed by her include IDBI Small Cap Fund, IDBI Equity Savings Fund, IDBI Nifty Index Fund, and IDBI Nifty Junior Index Fund.

Investment Restrictions on IDBI Top 100 Equity Fund

The Securities and Exchange Board of India (SEBI) has laid down the below-given investment restrictions on subscription to the IDBI Top 100 Equity Fund:

  • The scheme is not permitted to invest above 10% of its NAV in equity and its related securities of any firm.
  • The scheme cannot invest in debt securities that are unrated.
  • The scheme is not allowed to invest above 10% of its NAV in debt securities that have been issued by a single issuer and rated above the investment grade by a credit rating agency. This limit can be extended up to 12% of the NAV provided the Board of Trustees and Board of AMC (Asset Management Company) approve it.
  • The mutual fund is allowed to purchase and sell securities based on deliveries and for all cases of purchase and sale, delivery of securities is a must.
  • The scheme is not permitted to make investments in - any unlisted security of a group company or associate of the sponsor, any security issued by private placement, and any listed securities of sponsor’s group company which is more than 25% of the net assets.
  • The scheme cannot invest in any Fund of Funds (FoFs) scheme.
  • No loans can be advanced by the scheme for any purpose.
  • The restrictions applicable to debt securities will also apply to debentures of any residual maturity period.
  • The scheme cannot park more than 15% of its net assets in short-term deposits of all the scheduled commercial banks put together.

Dividend Policy of IDBI India Top 100 Equity Fund

The declaration of dividend under the dividend option of the IDBI India Top 100 Equity Fund is subject to the availability of distributable surplus and will be at the AMC and Trustee Company’s discretion.

The SEBI has laid down the below guidelines for the dividend policy of the scheme:

  • The dividend amount and the record date will be decided by the trustees during their meetings.
  • The date which is taken for the purpose of establishing the eligibility of investors will be considered as the record date. The extent of distribution of dividend and statutory levy will be adjusted against the NAV at the end of business hours on the record date.
  • The record date will usually be 5 calendar days from the day on which the notice is issued and will be published in at least one English and one regional newspaper.
  • The notice will state that the NAV of the scheme will fall to the extent of payout and statutory levy and will be published in bold, font size 10.

Other Facilities Offered Under IDBI India Top 100 Equity Fund

The below facilities are offered by the IDBI India Top 100 Equity Fund for the benefit of investors:

  • Systematic Investment Plan (SIP)
  • Systematic Transfer Plan (STP)
  • Systematic Withdrawal Plan (SWP)
  • Switching Option
  • Dividend Sweep Plan

Why you should invest in IDBI India Top 100 Equity Fund

  • Professional management - The IDBI India Top 100 Equity Fund is managed by Ms. Uma Venkatraman who has around 15 years of experience in handling financial products. With such an experience, you can be assured that your investment will fetch the most favourable returns.
  • Liquidity - Since the scheme is open-ended, investors in the IDBI India Top 100 Equity Fund can redeem and purchase units at prevailing NAVs on every business day.
  • Additional benefits - The scheme offers special products such as Switching, Dividend Sweep Plan, etc. Under the switching facility, investors have an option to switch a part or the whole of their investments to another scheme of the same fund house. The dividend sweep plan on the other hand, allows investors to transfer their dividends to any other open-ended schemes.

Various investment options - The IDBI India Top 100 Equity Fund offers many investment options to cater to the different needs of investors - direct, regular, growth, and dividend option. Direct plans have lower expense ratios, regular plans have slightly higher expense ratios, growth option where investors receive a lump-sum amount at the end of the scheme period, and dividend option where investors receive regular income.

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GST rate of 18% applicable for all financial services effective July 1, 2017.

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