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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. 

Investment Objective

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.

Invest in direct mutual funds

  • Enjoy 0% commission
  • SIP starting at ₹500

Indicative Asset Allocation

Types of Instruments  Indicative allocation  (% of total assets)  Risk Profile
Minimum Maximum
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. 

Fund Details

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
Options
  1. Growth 
  2. Income Distribution cum Capital Withdrawal Option / IDCW Option
Minimum SIP Amount Rs 1000 for a minimum of 6 months

Benchmark

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. 

Fund Managers

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

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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.