IDBI Mutual Fund launches focused equity fund

IDBI Mutual Fund has launched IDBI Focused 30 Equity Fund, an open-ended equity scheme on October 30, according to the fund house’s website. The scheme will close its subscription on November 13.

In terms of asset allocation, the scheme will allocate at least 65 percent of the corpus in equity and equity-related instruments of large-cap companies and the balance in debt and money market instruments.

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: 5,000 rupees and in multiples of one rupee thereafter
* Performance benchmark: Nifty 100 Index
* Exit Load: 1 percent if redeemed within 12 months from the date of allotment
* Risk: Moderate* Fund manager: V. Balasubramanian