Currently ranked amongst the top 7 financial conglomerates in the country, IIFL which was previously known as India Infoline Limited was founded in 1995 by Nirmal Jain and is headquartered in Mumbai. Having a plethora of financial services on offer, IIFL in 2017 was awarded the Best Private Banking Services by Euromoney.
Types of Mutual Funds Offered by IIFL
Listed below are the types of mutual funds offered by IIFL:
- Equity Funds
- Fixed Income Funds
- Liquid Funds
Equity Funds offered by IIFL
IIFL offers the Focused Equity Fund which was previously called as IIFL India Growth Fund:
- IIFL Focused Equity Fund:
|Fund Type||Open ended equity scheme|
|Exit Load||2% - Applicable if the fund is redeemed or switched out, on or before 2 months from the allotment of the fund.|
|Benchmark||Nifty 50 Index|
|Fund Manager||Mr. Prashasta Seth|
|Risk Factor||Moderately high|
Investment objective of IIFL Focused Equity Fund
The IIFL Focused Equity Fund is specifically designed for investors that wish to achieve capital growth over a long term or tenure. Investors have the choice of investing in equities or equity-linked securities with a moderately high risk profile.
Who is the IIFL Focused Equity Fund for?
The IIFL Focused Equity Fund is specifically for investors that do not mind investing in a moderately high risk profile and wish to see principal growth over a long tenure.
Fixed Income Fund offered by IIFL
IIFL offers the Dynamic Bond Fund:
- IIFL Dynamic Bond Fund:
- 1% if the investor wishes to redeem or switch out of the plan on or before 18 months from the allotment of the fund.
- Nil or 0% if the investor switches out or redeems the fund 18 months after the allotment of the fund.
|Fund Type||Open ended dynamic debt scheme|
|Exit Load||The exit load is based on the below-listed conditions:
|Benchmark||CRISIL Liquid Fund Index|
|Fund Manager||Mr. Ankur Parekh|
Investment objective of the IIFL Dynamic Bond Fund:
Keeping optimisation of return as a priority, the IIFL Dynamic Bond Fund allows investor to invest in a variety of money market instruments and debt instruments with varying risk profiles. The IIFL Dynamic Bond Fund will help the investor earn income as well as long-term gains.
Who is the IIFL Dynamic Bond Fund for?
The IIFL Dynamic Bond Fund is for investors that are looking for an assured long-term gain and income over the fund tenure or term. In order to ensure formidable returns, the investment can be over a variety of debt and money market instruments with different risk profiles.
Liquid Fund offered by IIFL
IIFL offers investors the short-term IIFL Liquid Fund:
- IIFL Liquid Fund:
|Fund Type||Open ended liquid scheme|
|Benchmark||CRISIL Liquid Fund Index|
|Fund Manager||Mr. Ankur Parekh|
Investment objective of the IIFL Liquid Fund:
The IIFL Liquid Fund is specifically designed for investors who wish to make an investment over a short duration. Offered with a low risk profile, the IIFL Liquid Fund allows investors to plant their money in debt and money market instruments with the maturity of the scheme not exceeding 91 days.
Who is the IIFL Liquid Fund for?
The IIFL Liquid Fund is particularly for investors that are looking for an investment over a short duration and that do not want to take any risk with their principal amount. Investors can put their money in low risk debt and money market instruments and look for a return following the 90-day maturity mark.
Save Tax by Investing in Tax Savings Mutual Funds from IIFL
Mutual funds offered by IIFL are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
Who is Eligible for IIFL Mutual funds?
Listed below is the eligibility criteria to apply for mutual funds offered by IIFL:
- Resident Indians
- Non-Resident Indians (NRIs)
- Foreign nationals
- Parents or legal guardians on behalf of minors
- Members of merchant navy or mariners (Indians, non-resident Indians or foreign nationals)
Documents Required for IIFL mutual funds
Along with the application form, investors will have to submit the below-listed KYC compliant forms. Applicants should ensure that the details as mentioned in the submitted forms as well as what’s mentioned on the application form match, in order to avoid rejection of the application form. All submitted forms along with the application form have to be self-attested by the applicant.
- Identity proof (Government authorised)
- Address proof (Government authorised)
- PAN card
- Passport size photographs
- Copy of PIO certificate (for non-residents or foreign nationals)
- Copy of OCI card (for non-residents or foreign nationals)
- CDC (Continuous Discharge Certificate) for members of the merchant navy, marines, etc.
- Copy of school certificate, passport, birth certificate, or mark sheet from higher secondary board for minors
- Cancelled cheque
How to invest in IIFL mutual funds
Mutual fund applicants can apply for a fund of their choice by visiting the main website of IIFL. Once on the page, the applicant has to click on ‘Funds’ on the top row and then choose the type of fund that they would wish to invest in - Equity, Fixed Income, or Liquid Fund. Once they have chosen the fund, one needs to click on ‘Invest’ and choose the ‘New Customer’ option. From there one should enter their PAN and click on ‘Submit’. You will then enter all the required credentials on the registration form and mutual fund application form, and upload the documents for verification. The applicant has to then choose the type of fund they wish to invest in, choose the diversification (if applicable), and then make the online payment for it.
Why choose IIFL mutual funds?
The fund management team of IIFL believes that they can create an opportunity for investors even if they choose a small sum. Using various risk adjustment methods, IIFL fund managers look to give their investors a formidable 15-20% return on even the smallest of investments. With IIFL, investors have a choice of investing for a short or a long tenure and can choose the risk profile of their fund to ensure a formidable return on maturity. As already mentioned, IIFL is rated amongst the top 7 financial conglomerates in the country and their experienced fund managers will guide you through the whole process and oversee the growth of the fund to ensure the investors earn a formidable return at the point of maturity of the fund.
- Can you explain what entry load and exit load are?
- What are assured return schemes?
- Is it possible for non-resident Indians to invest in a mutual fund offered by IIFL?
- How long will it take for the redemption of units?
- What should I take into consideration when investing or choosing mutual funds?
The exit load and the entry load are a percentage of the net asset value (NAV) of the fund that will be charged by the fund manager. For example, say that the NAV of the fund is Rs.100 and the exit load is 1% and is applicable if the investor redeems the fund before the maturity date of the fund, then Rs.1 will be taken by the fund manager and Rs.99 will be earned by the investor.
Assured return schemes ensure the investor will be assured a certain return on maturity of the scheme irrespective of the performance of the fund. That said, investors have to read the fine print of the document and ensure that the assured return is applicable for the entire tenure of the fund and not just for a specific period.
Yes, residents of India, non-residents and even foreign nationals can invest in the mutual funds offered by IIFL. For non-residents and foreign nationals, they would have to submit a PIO certificate or OCI card as proof of identification.
Once the investor has made a declaration to redeem the units, it will roughly take 10 days for the units to be credited to the bank account of the investor.
Investors have to take into consideration the risk profile of the fund, make an approximation of the return they will receive at maturation when they invest in a fund, their age, and their financial situation. If they are financially in a good state, they can choose to invest in funds with higher risk profiles. If not, a fund with a lower risk but a formidable return following the tenure of the fund should be the choice of the investor.