IDFC Asset Management Company Limited has launched a new fund offer for IDFC US Equity Fund of Fund. The fund is open for subscription between July 29, 2021, and August 12, 2021.
Read on to find out more about the NFO.
IDFC US Equity Fund of Fund is an open-ended fund of fund scheme investing in units/shares of overseas mutual fund schemes or ETFs investing in US Equity securities.
Indicative Asset Allocation
|Types of Instruments||Indicative allocation (% of total assets)||Risk Profile|
|Units/Shares of overseas Mutual Fund Scheme (/s) / Exchange Traded Fund (/s) investing in US Equity securities*||95%||100%||Very High|
|Debt Securities, Money Market Instruments, and/or units of Debt and Liquid schemes||0%||e%||Low to Medium|
*The scheme intends to invest a maximum of USD 400 million in Overseas securities / Overseas ETFs. This limit will be applicable for six months from the date of closure of NFO, subject to the overall limit of the fund house up to a maximum of US $1 billion. In case of investment in overseas ETFs, the overall ceiling of the fund house will be subject to a maximum of US $300 million.
|Scheme name||IDFC US Equity Fund of Fund|
|Type of scheme||An open-ended fund of fund scheme investing in units/shares of overseas Mutual Fund Scheme (/s) / Exchange Traded Fund (/s) investing in US Equity securities|
|NFO Dates||July 29, 2021 – August 12, 2021|
|Fund Managers||Mr. Viraj Kulkarni, Mr. Harshal Joshi|
|Benchmark||Russell 1000 Growth Index (Total Return Net of 30% withholding tax)|
|Minimum Amount for Application during NFO||Rs.5,000 and any amount after that|
|Minimum Additional Purchase Amount||Rs.1,000 and any amount after that.|
|Minimum Redemption/Switch-Out Amount||Rs.1,000 or account balance of investor, whichever is less|
|Load||a) Entry Load: N.A
b) Exit Load:
(i) 1% of applicable NAV – if the units are redeemed/switched out within 1 year from the date of allotment
(ii) Nil–if the units are redeemed / switched-out after 1 year from the date of allotment
|Plans||Direct and Regular|
|Minimum SIP Amount||Rs 1000 for a minimum of 6 months|
Russell 1000 Growth Index
The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the US equity universe. It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.
According to its index factsheet, the Russell 1000 Growth index is completely reconstituted annually to ensure new and growing equities are included. The represented companies continue to reflect growth characteristics.
Mr. Viraj Kulkarni
Mr. Viraj Kulkarni is the dedicated fund manager for investments in foreign securities. He has been working with IDFC AMC since September 2015.
He holds an experience of 9 years. He has worked with Franklin Templeton Asset Management (India) Pvt. Ltd. as a Management Trainee and with Goldman Sachs Services India as Analyst, Wealth Management Technology.
Mr. Harshal Joshi
Mr. Harshal Joshi has experience spanning over 13 years in the Mutual Fund Industry. He has been associated with IDFC AMC since December 2008 with their Fixed Income Investment team. Before that, he was associated with ICAP India Pvt. Ltd.
Other funds managed/co-managed by him are:
- IDFC Arbitrage Fund
- IDFC Equity Savings Fund
- IDFC All Seasons Bond Fund
- IDFC Cash Fund
- IDFC Ultra Short Term Fund
- IDFC Money Manager Fund
- IDFC Government Securities Fund – Constant Maturity Plan
- IDFC Fixed-Term Plans
Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.