| Nature | An open ended equity scheme investing in Banking & Financial Services Sector. |
| Investment Objective |
The objective of the scheme is to provide investors maximum growth opportunities and to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in Banking and Financial Services Sector. However there can be no assurance that the investment objective under the scheme will be realized. |
| Asset Allocation | The asset allocation pattern for the scheme under normal circumstances is detailed in the table below:
| Instrument | Indicative allocation
(% of total assets) | Risk Profile |
| | Minimum | Maximum | |
| Equity & Equity related instruments of companies engaged in Banking & Financial Services Sector |
80% |
100% |
High |
| Equity and Equity related instruments of other than Banking & Financial Services Sector Companies |
0% |
20% |
High |
| Debt and Money Market instruments |
0% |
20% |
Low to Medium |
| Units issued by Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) |
0% |
10% |
Medium to High |
For more details about asset allocation, please refer to the Scheme Information Document (SID) |
| Fund Manager | Ms. Uma Venkatraman |
| Benchmark | NIFTY Financial Services -Total Return Index (TRI) |
| Face Value | Rs.10/- per unit |
| Entry Load | Not applicable |
| Exit Load | 1% for exit (repurchase/switch out/transfer/SWP within 12months from the date of allotment.
|
| Taxation |
| IDBI Banking & Financial Services Fund | Resident Investors** | Mutual Fund** |
Tax on Dividend
(Dividend Distribution Tax) |
Nil |
10% p.a (plus applicable surcharge & cess) |
Capital Gains
- Long Term Capital Gain(LTCG) (units heldfor more than 12 months)
- Short Term Capital Gain (STCG) (units held for less than 12 months)
|
10% on LTCG, in excess of Rs.1 lakh in a financial year. No indexation benefit is available on computation of such LTCG.
15% (plus applicable surcharge and cess) |
Nil
Nil
|
As per section 10(38) of the Act, equity oriented fund means a fund where the investible funds are invested by way of equity share in domestic companies to the extent of more than sixty five percent of the total proceeds of such fund and which has been set up under a scheme of a mutual fund specified under section 10(23D) of the Act.
Transactions in units of Equity oriented Scheme also attract securities transaction tax (STT) at applicable rates.
** For further details on taxation please refer to the Section on Taxation in the SAI and independently refer to you tax advisor. |
| Plans & Options | The Scheme offers following plans for investment:-
Within each Plan there are two Options:
- Dividend Option
- Growth Option
The Dividend option under both Plans offers following modes of dividend:
- Dividend Payout
- Dividend Re-investment
- Dividend Sweep
|
| Minimum Investment | Rs. 5000 and in multiplesof Re. 1 thereafter |
| Additional Purchase | Rs.1000 and in multiples of Re. 1 thereafter. |
| Systematic Investment Plan (SIP) |
- Rs. 1000 per month for a minimum period of 6 months
- Rs. 500 per month for a minimum period of 12 months
- Rs. 1500 per quarter for minimum period of 4 quarters.
Investments above minimum amount mentioned, shall be made in multiples of Re. 1 for all SIP in both Options irrespective of frequency of SIP
|
| Riskometer | This product is suitable for investors who are seeking*:
- Long term capital growth
- Investment predominantly in equity & equity related instruments of companies engaged in Banking & Financial Services Sector.
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them. | |