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  • 05

    Feb
    2019

    IDBI Healthcare Fund Floats On

    IDBI Mutual Fund has launched a new fund named as IDBI Healthcare Fund, an open ended equity scheme investing in healthcare and allied sectors. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 08 February 2019 to 22 February 2019.

    The objective of the Scheme is to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in Healthcare and Allied sectors.

    The Scheme offers Regular Plan and Direct Plan for investment. Both Plans offer Growth Option and Dividend Option. Dividend Option offers facility for payout/ reinvestment/sweep of dividend.

    The scheme would allocate 80%-100% of assets in equity & equity related instruments of companies engaged in healthcare and allied sectors with high risk profile, upto 20% of assets in other equities and equity related instruments of companies engaged in other than healthcare and allied sectors with high risk profile, invest upto 20% of assets in debt and money market instruments including Mutual Fund Liquid Schemes with low to medium risk profile and invest upto 10% of asset in Units issued by Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) with medium to high risk profile.

    The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.

    The minimum additional purchase amount is Rs 1000 and in multiples of Re 1 thereafter

    The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

    Entry load: Not applicable

    Exit Load: 1% for exit within 12 months from the date of allotment for the subscriptions received during the NFO period

    Benchmark Index for the scheme is S&P BSE Healthcare - Total Return Index (TRI)

    The fund manager for the scheme is Uma Venkatraman.

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