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  • IDBI Nifty Index Fund(G)

    IDBI Nifty Index Fund(G)
    Dividend Yearly
    NA
    Category
    Equity - Index
    52-week NAV high
    21.63  (As on 28-08-2018)
    52-week NAV low
    18.44  (As on 23-03-2018)
    Expense
    0.99%  (As on 31-10-2018)

    Performance

    1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
    Fund Returns -0.42 -6.62 -2.15 1.79 12.17 10.73 5.56 10.19 -
    Scheme Details
    Fund Type
    Open Ended
    Investment Plan
    Growth
    Bonus
    NA
    Launch Date
    Jun 25, 2010
    Last Dividend
    NA
    Minimum Investment
    5000
  • IDBI Mutual Fund is sponsored by IDBI Bank, one of India’s largest banks, and was incorporated in the year 2010. The fund house is managed by IDBI Asset Management Limited and its trustee is IDBI MF Trustee Company Ltd. IDBI Mutual Fund offers 20 mutual fund schemes across various asset classes - equity, gold, debt, and hybrid.

    The IDBI Nifty Index Fund is an open-ended equity scheme that replicates the performance of the Nifty 50 Index and invests in stocks that constitute the index in the same proportion. The growth option of the scheme offers capital gains to the investor at the end of the investment period.

    Investment Objective

    To produce capital returns for the investor by investing in stocks that constitute the Nifty 50 Index. The scheme may also invest in derivatives securities such as Options and Futures that are linked to the index or comprises the index.

    Key Features of the Scheme

    The IDBI Nifty Index Fund is ideal for investors who seek capital growth over a long term. The scheme displays the below features:

    Type of fund

    An open-ended scheme that mirrors the Nifty 50 Index

    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 IDFC Nifty Index 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 SIP - Rs.1,000 for a minimum of 6 months, Rs.500 for a minimum of 12 months

    Quarterly SIP - Rs.1,500 for a minimum of 4 quarters

    Entry Load

    Not Applicable

    Exit Load

    Nil

    Asset Allocation for IDBI Nifty Index Fund

    Instruments

    Indicative Allocation (% of total assets)

    Risk Profile

    Minimum

    Maximum

    Stocks that make up the Nifty 50 Index and derivative instruments associated with the Nifty 50 Index

    95%

    100%

    Medium to High

    Cash and money market securities including call money but excludes subscription and redemption cash flow

    0%

    5%

    Low to Medium

    Who can invest in IDBI Nifty Index Fund?

    The below-mentioned persons/entities are eligible to invest in the units of IDBI Nifty Index Fund:

    • Adults residing in India, either singly or jointly (not more than 3 individuals)
    • Parents/Legal Guardians in minors’ behalf
    • Corporate bodies and firms registered in India
    • Body of Individuals (BoIs) or Association of Persons (AoPs)
    • Financial Institutions, Investment Institutions, and banks (including Regional Rural Banks and Co-operative Banks)
    • Co-operative and registered societies authorised to invest
    • Hindu Undivided Families (HUFs) through Karta
    • Trustees of private trusts authorised under their trust deeds
    • Partners of partnership firms
    • Public corporations and Public Sector Undertakings (PSUs)
    • Religious and charitable trusts
    • Government of India approved International Multilateral Agencies
    • Navy/Army/Air Force, Paramilitary Units and other eligible institutions
    • Scientific and Industrial Research Organisations
    • SEBI registered mutual funds
    • Non-Resident Indians (NRIs) and Persons of Indian Origin on repatriation or non-repatriation basis
    • Foreign Portfolio investors (FPI), and Public Financial Institution
    • Foreign Institutional Investors (FIIs) registered with SEBI
    • Universities and Educational Institutions

    NAV Disclosure and Benchmark for IDBI Nifty Index Fund

    The Net Asset Value (NAV) of the scheme is calculated by dividing the scheme’s net assets by the number of units that are outstanding on the date of valuation. The scheme’s NAV is computed up to 2 decimals and is announced at the end of every business day. The NAV will be published on the website of the AMFI (www.amfiindia.com) by 9:00 p.m. on all business days.

    The official website of IDBI Mutual Fund (www.idbimutual.co.in) will also display the NAV of the scheme and send it for publication in at least 2 newspapers with countrywide circulation on every business day.

    Liquidity: Being an open-ended scheme, purchases and redemptions can be done on any business day at the applicable NAV.

    Benchmark Index: Nifty 50 Index Total Return Index (TRI)

    Fund Manager

    Ms. Uma Venkatraman

    The IDBI Nifty Index 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 India Top 100 Fund, and IDBI Nifty Junior Index Fund.

    Investment Restrictions on IDBI Nifty Index Fund

    The below investment restrictions apply to the subscription to the units of the IDBI Nifty Index Fund, as laid down by the Securities and Exchange Board of India (SEBI):

    • The scheme can purchase and sell securities depending on the deliveries and is liable to deliver the securities in all cases of purchase and sale.
    • Investments in the units of IDBI Nifty Index Fund of a long-term nature require the mutual fund scheme to purchase and transfer the securities in the name of the concerned scheme.
    • If the scheme intends to park its funds in short-term deposits of sponsor and associate scheduled commercial banks, the same shall not be more than 20% of the fund’s total deployment in short-term deposits.
    • The scheme is not permitted to make investments in - listed securities of sponsor’s group companies over 25% of the net assets, any security of sponsor’s group company which is unlisted, and any security that has been issued through private placement by sponsor’s group company or associate.
    • The scheme cannot invest in any Fund of Funds (FoF) scheme.
    • The scheme is not permitted to invest in equity or its related securities that are unlisted.
    • Debentures of any residual maturity period will attract the same restrictions as debt securities.
    • No loans can be advanced by the mutual fund/scheme for any purpose.

    Dividend Policy of IDBI Nifty Index Fund

    The declaration of dividend under the dividend option 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 Nifty Index Fund

    The IDBI Nifty Index Fund offers the below facilities for the benefit of investors:

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

    Why you should invest in IDBI Nifty Index Fund

    • Liquidity - Since the scheme is open-ended, investors in the IDBI Nifty Index Fund can redeem and purchase units at prevailing NAVs on every business day.
    • Professional management - The IDBI Nifty Index Fund is managed by Ms. Uma Venkatraman who has around 15 years of experience in managing financial products. With such an experience, you can be assured that your investment will fetch optimal returns.
    • Various investment options - The IDBI Nifty Index 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.

    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.

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

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