Product Snapshot

 
Fund Name
IDBI EQUITY ADVANTAGE FUND
 
NatureAn open-ended Equity Linked Savings Scheme (ELSS) offering income tax benefits under Section 80C of the IT Act, 1961
Investment Objective The 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. There can be no assurance that the investment objective under the scheme will be realized.
Asset Allocation The asset allocation pattern for the scheme is detailed in the table below:
Instrument Indicative allocation
(% of total assets)
Risk Profile
  Minimum Maximum  
Equity and equity related instruments 80% 100% Medium to High
Equity and equity related instruments 0% 20% Low to Medium
For more details on Asset Allocation please refer Scheme Information Document(SID)
Fund Manager V. Balasubramanian
BenchmarkS&P BSE 200 Index
Face ValueRs. 10/- per unit.
Entry Load Not Applicable
Exit Load Nil
Lock-in-periodStatutory lock in period of 3 years from the date of allotment.
For SIP

Statutory lock in period of 3 years is applicable to every installment made in the scheme.

Taxation
Scheme Resident Investors** Mutual Fund**
Tax on Dividend (Dividend Distribution Tax (DDT)) Nil Nil
Capital Gain    
Long Term Nil Nil
Short Term
(units held for less than 12 months)
15% (plus applicable surcharge and cess) Nil

Unit holders of the Scheme will be charged securities transaction tax (STT) @ applicable rate on value of redemption of units.
Investors in this Scheme will be eligible for income tax deduction benefits under Section 80C of the IT Act, 1961. Investors in the Scheme are entitled to deductions of the amount invested in Units of the Scheme, subject to a maximum of Rs. 1,50,000/-, under Section 80C of the Income Tax Act, 1961.
The detailed explanation about Equity Linked Saving Scheme and Tax Benefits offered to the investors under ELSS is provided earlier
** For further details on taxation please refer to the Section on Taxation in the SAI
Plans & Options
The Scheme offers following plans for investment:-
  • Regular Plan
  • Direct Plan
Within each Plan there are two Options:
  1. Dividend Option
  2. Growth Option
The Dividend option under both Plans offers the following modes of dividend:
  • Payout
  • Sweep
Minimum Investment Rs. 500 and in multiples of Rs. 500 thereafter.
Additional Purchase Rs.500 and in multiples of Rs 500 thereafter.
Systematic Investment Plan (SIP)
Monthly option - Rs. 500 and in multiples of Rs. 500/- thereafter per month, for at least 12 months or
Rs. 1000 and in multiples of Rs. 500/- thereafter per month, for a minimum period of 6 months.
Quarterly option - Rs. 1500 and in multiples of Rs. 500/- per quarter thereafter for a minimum period of 4 quarters.

Investments above the minimum amount mentioned, shall be made in multiples of Rs.500 for all SIP irrespective of frequency of SIP or the Option
Riskometer
This product is suitable for investors who are seeking*:
  • Long term capital growth
  • An Equity Linked Savings Scheme (ELSS) investing in 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, subject to a statutory lock-in of three years.
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.