IDBI Mutual Fund's equity schemes benchmarked to Total Return Index

IDBI Mutual Fund has revised the benchmark for all its equity schemes to total return variant of the respective index effective Feb 1, the fund house said in a newspaper notice.

On Jan 4, the Securities and Exchange Board of India had directed fund houses to compare the performance of their schemes with total return variant of the benchmark index instead of current price return variant.

The total return variant captures the value of dividends paid out by companies, while the price return variant captures capital gains of firms in an index.

The fund house has also revised the benchmark index of IDBI Monthly Income Plan to CRISIL Hybrid 85+15 Conservative Index from CRISIL MIP Blended Index, earlier.

In order to comply with the Jan 4 regulatory guidelines, CRISIL has modified its respective benchmark indices.

All other features of the schemes remain unchanged.