IDBI Mutual Fund was incorporated in the year 2010 and is sponsored by IDBI Bank, one of India’s largest lending institutions. IDBI Asset Management Limited is the fund manager of IDBI Mutual Fund and its trustee is IDBI MF Trustee Company Ltd. The fund house offers 20 mutual fund schemes across various asset categories - equity, gold, debt, and hybrid.
The IDBI Midcap Fund - Direct Plan - Growth is an open-ended equity scheme that invests in equities of midcap firms. The direct plan of the scheme offers lower expense ratio while the growth option offers capital appreciation to the investor at the end of the investment period.
Investment Objective
To offer investors with an opportunity to grow their capital over a long term through investment in equity and its related securities of mid cap firms.
Key Features of the scheme
The IDBI Midcap Fund is ideal for investors who wish to grow their capital 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 | The dividend option has payout, reinvestment, and sweep facility |
| Risk | Moderately High |
| Systematic Investment Plan | Available |
| Systematic Transfer Plan | Available |
| Systematic Withdrawal Plan | Available |
Investment amount for IDBI Midcap 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 per month for at least 12 months or Rs.1,000 and in multiples of Re.1 thereafter per month for at least 6 months. Quarterly - Rs.1,500 and in multiples of Re.1 thereafter per quarter for at least 4 quarters |
| Minimum installment for Systematic Withdrawal Plan (SWP) | Rs.1,000 and in multiples of Re.1 thereafter |
| Entry Load | Not Applicable |
| Exit Load | 1% exit load will apply if an investor redeems/switches units before 12 months from unit allotment date. No exit load will be charged thereafter. |
Asset Allocation for IDBI Midcap Fund
| Instruments | Indicative Allocation Percentage of total assets | Risk Profile | |
| Minimum | Maximum | ||
| Equity and its related securities of mid cap firms | 65% | 100% | High |
| Equity and its related securities of other than mid cap firms | 0% | 35% | High |
| Debt and money market securities | 0% | 35% | Low to Medium |
| Units issued by REITs and InvITS | 0% | 10% | Medium to High |
NAV Disclosure and Benchmark for IDBI Midcap Fund
The scheme’s NAV is obtained by dividing the scheme’s net assets by the number of outstanding units on the date of valuation. The NAV will be rounded off to 2 decimal places and disclosed at the end of every business day. The NAV will be updated on the website of AMFI (www.amfiindia.com) and website of IDBI Mutual Fund (www.idbimutual.co.in) by 9:00 p.m. every business day.
The NAV will also be sent to at least 2 newspapers for publication on every business day. The newspapers publishing the NAV will have a nationwide circulation. The scheme’s monthly portfolio will also be available on the official website of Invesco Mutual Fund on or before the 10th day of the succeeding month.
Benchmark: Nifty Midcap 100 Total Return Index (TRI)
Fund Manager
Mr. Ashish Mishra
The IDBI Midcap Fund is managed by Mr. Ashish Mishra and he has been managing the scheme since 5 September 2017. Mr. Mishra has an overall experience of 11 years in the finance domain and prior to joining IDBI Mutual Fund, he worked with ING Investment Management and Union Bank of India. Apart from the IDBI Midcap Fund, he also manages the IDBI Gold Fund, IDBI Diversified Equity Fund, and IDBI Gold Exchange Traded Fund.
Why you should invest in the IDBI Midcap Fund
- Optimal returns - Since the IDBI Midcap Fund invests in stocks of mid cap firms, it has a potential to fetch optimal returns for the investor.
- Liquidity - Being an open-ended scheme, the units of IDBI Midcap Fund can be redeemed or switched out on every business day at applicable NAVs. Thus, offering liquidity to the investor.
- Multiple investment options - The IDBI Midcap Fund offers multiple investment options such as growth, dividend, regular, and direct plans. Having multiple options let the investors choose the best plan suited to their needs.
- Professional management - The fund manager of the scheme has a rich experience of over 11 years in the finance domain and hence, you can rest assured that your investments will be handled efficiently to produce the most favourable returns.
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