IDFC Mutual Fund seeks SEBI nod for small cap fund

IDFC Mutual Fund has sought the Securities and Exchange Board of India's approval for launching IDFC Small Cap Fund, according to the draft offer document on the regulator's website.

The open-ended equity scheme will invest at least 65 percent of its corpus in equity and equity-related instruments of small cap companies and rest up to 35 percent in debt and money market instruments.

The scheme also has the provision to invest up to 10 percent of its assets in Real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 5,000
* Performance benchmark: S&P BSE Small  Cap  Index (Total Return variant)
* Exit Load: 1 percent if investments are redeemed before one year from the allotment date
* Fund managers: Anoop Bhaskar, Daylynn Pinto and Kartik Mehta