IIFL Mutual Fund floats IIFL Dividend Opportunities Index Fund

The NFO opens on 6 June 2012 and closes on 19 June 2012

May 28, 2012 5:34 IST | India Infoline News Service
IIFL Mutual Fund has launched a new fund IIFL Dividend Opportunities Index Fund. The NFO opens on 6 June 2012 and closes on 19 June 2012.
The investment objective of the scheme is to provide returns (before fees and expenses) that closely correspond to the total return of the CNX Dividend Opportunities Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The minimum investment amount is Rs. 5,000. The fund will charge 1% exit load for exit on or before one year from the date of allotment of units.
IIFL Dividend Opportunities Index Fund is an open-ended index fund which will invest in stocks which are constituents of CNX Dividend Opportunities Index in the same proportion (weightage) as in Dividend Index, subject to tracking error.
The maiden mutual fund scheme which will replicate a thematic index (dividend index) of high yielding companies listed on NSE. The investment made in the fund is diversified across sector and market cap (25 sectors and consists of large cap and mid cap stocks).
Being an Index Fund, the fund will charge lower expenses compared to actively managed mutual fund schemes. The benchmark Dividend Index has outperformed generally other key representative Indices (e.g S&P CNX Nifty, CNX 100, CNX Midcap).

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