IDBI Nifty Index Fund Direct Growth is a Others Mutual Fund Scheme launched by IDBI Mutual Fund. This scheme was introduced to investors on 01 Jan 2013. Uma Venkatraman is the Current Fund Manager of IDBI Nifty Index Fund Direct Growth.The fund currently has an Asset Under Management(AUM) of ₹229 Cr and the Latest NAV as of 20 Nov 2019 is ₹23.51.
The IDBI Nifty Index Fund Direct Growth is rated Moderately High risk. Minimum SIP Investment is 500. Minimum Lumpsum Investment is 5000. Nil.
Investment Objective
To invest in the stocks and equity related instruments comprising the S&P CNX Nifty Index in the same weights as these stocks represented in the Index with the intent to replicate the performance of the Total Returns Index of S&P CNX Nifty index. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the S&P CNX Nifty index (Total Returns Index) and the scheme.
Tax Implications
Returns are taxed at 15%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 10% on returns of Rs 1 lakh+ in a financial year.
Scheme Information Document(SID)
₹5000
Min for First Investment
₹1000
Min for Second Investment