The IDBI Nifty Junior Index Fund - Direct Plan - Growth Option is an open-ended equity scheme that is passively managed and tracks the Nifty Next 50 Index. The scheme is offered by IDBI Mutual Fund and managed by IDBI Asset Management Limited. The trustee company of IDBI Mutual Fund is IDBI MF Trustee Company Limited.
Investment Objective of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
The investment objective of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option is to make investments only in the stocks that comprise the Nifty Next 50 Index in the same proportion as the Index. The IDBI Nifty Junior Index Fund - Direct Plan - Growth Option aims to try and emulate the performance of the Total Returns Index of the Nifty Next 50 Index. The IDBI Nifty Junior Index Fund - Direct Plan - Growth Option could also make investments in derivatives instruments like Options and Futures that are connected to the Nifty Next 50 Index or the stocks comprised in the index. A passive investment strategy shall be adopted by the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option to achieve its investment objective by reducing the tracking errors between the scheme and the Nifty Next 50 Index.
Key Features of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
Here are some of the key features of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option:
| Type of Fund | Open-ended equity Fund |
| Plans Available |
|
| Options Under Each Plan | Both the Regular Plan as well as the Direct Plan come with the following options:
|
| Systematic Investment Plan | Available |
| Systematic Transfer Plan | Available |
| Systematic Withdrawal Plan | Available |
| Risk Factor | Moderately High |
Investment Amount for the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
| Minimum Application Amount (for Growth option) | Rs.5,000 and in multiples of Re.1 thereafter |
| Minimum Additional Investment (for Growth option) | Rs.1,000 and in multiples of Re.1 thereafter |
| Minimum Instalment for Systematic Investment Plans |
|
| Entry Load | Not Applicable |
| Exit Load | Nil |
Asset Allocation for the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
| Instruments | Allocations (Percentage of total assets) | Risk Profile |
| Stocks in the Nifty Next 50 Index and derivative instruments linked to the Nifty Next 50 Index as and when the derivative products are made available on the same | 95% to 100% | Medium to High |
| Cash and money market instruments including money at call but not including Subscription and Redemption Cash Flow | 0% to 5% | Low to Medium |
NAV Disclosure and Benchmark for IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
The Net Asset Value of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option shall be calculated on each and every calendar day and be published in a minimum of two national newspapers that are circulated across India on every business day. The Asset Management Company shall also update the NAV of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option on the website of the mutual fund as well as the website of the Association of Mutual Funds in India by 9:00 a.m. on every business day.
Benchmark Index of the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option: Nifty Next 50 Index (Total Returns Index)
IDBI Nifty Junior Index Fund - Direct Plan - Growth Option Fund Manager
The IDBI Nifty Junior Index Fund - Direct Plan - Growth Option is managed by Mr. Anshul Sharma who has been in charge of the scheme since April 2015. Mr. Sharma works as a Fund Manager with IDBI Mutual Fund and has over nine years of experience in equity markets. His previous employers include a couple of popular names such as IDBI Bank Ltd. (where he worked in the Treasury Department) and ING Investment Management Pvt. Ltd. (where he worked in the Fund Management Department). Mr. Sharma manages a few other funds for IDBI Mutual Fund, such as IDBI Gold Fund, IDBI Nifty Index Fund, and IDBI Gold Exchange Traded Fund.
Why you should invest in the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option
Investment in the IDBI Nifty Junior Index Fund - Direct Plan - Growth Option is a good option for investors who want capital growth in the long term via a passively management strategy. The scheme tracks the Nifty Next 50 Index to generate capital growth and invests only in stocks comprising the Nifty Next 50 Index in the same proportion as the index.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
GST rate of 18% applicable for all financial services effective July 1, 2017.
