IDBI Equity Advantage Fund Direct Growth is a Equity Mutual Fund Scheme launched by IDBI Mutual Fund. This scheme was made available to investors on 10 Sep 2013. V Balasubramanian is the Current Fund Manager of IDBI Equity Advantage Fund Direct Growth fund.The fund currently has an Asset Under Management(AUM) of ₹536 Cr and the Latest NAV as of 08 Apr 2020 is ₹23.80.
The IDBI Equity Advantage Fund Direct Growth is rated Moderately High risk. Minimum SIP Investment is set to 500. Minimum Lumpsum Investment is 500.
Investment Objective
Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C.
Tax Implications
Upto Rs. 1.5 lac will be tax free under 80C. Lockin of 3 years. Returns will be taxed at 10%.
Scheme Information Document(SID)
₹500
Min for First Investment
₹500
Min for Second Investment