IDFC Mutual Fund announces change in key features IDFC Mutual Fund has decided to change the name, asset allocation pattern and investment objective of IDFC Liquid Fund. The name of the scheme has been changed as IDFC Savings Advantage Fund with revised investment objective to offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy and the scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. It will allocate 65 per cent to 100 per cent of assets in money market instruments, up to 35 per cent of assets in debt instruments with maturity upto 365 days, up to 10 per cent of assets in debt instruments between 1 to 3 years and up to 35 per cent of assets in securitized instruments. The scheme will not charge any entry and exit load. The minimum application amount under the scheme is Rs. 5000 and in multiples of Rs.1 thereafter for plan A, Rs 500 and in multiples of Rs. 1 in plan D. The change will be effective from 02nd March, 2010.
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