IDFC Small&Midcap Eqty renamed to IDFC Sterling Equity Fund

IDFC Mutual Fund has announced change in name of its scheme IDFC Small and Midcap Equity Fund. The scheme will be thus be renamed to IDFC Sterling Equity Fund with effect from 24 October 2011. All the terms and conditions of the Scheme Information Document(s) remain unchanged and no amendment is announced.

The investment objective of the scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments.

The scheme will predominantly invest in Small and Midcap equity and equity related instruments. The scheme may also invest in stocks other than midcap stocks (i.e. in stocks which have a market capitalisation of above the market capitalisation range of the defined small-midcap stocks) and derivatives. On defensive consideration, the scheme may also invest in debt and money market instruments. In case of discontinuation/suspension of CNX Midcap Index, the AMC reserves the right to modify the definition of Midcap and Small cap companies.

Entry load for the scheme is Nil. Exit load of 1% will be levied if redeemed within 365 days from date of allotment.

The Benchmark of the scheme is CNX Midcap and the fund is managed by Kenneth Andrade

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