IDBI MF has introduced new features in its IDBI Monthly Income Plan

Mutual Funds | admin | December 22, 2011 at 8:45 am

IDBI Mutual Fund has introduced new features in IDBI Monthly Income Plan with effect from 9 December 2011. In addition to the existing facilities, the scheme will also offer the Regular Cash Flow Plan (RCFP). Under this facility investors can build a corpus either through SIP or through lump sum investments over a period of time which can then be utilized to regular cash flow. This facility is being made available in the growth option only.

Under RCFP facility the investor can choose either of the following to receive regular cash flows.

i) By way of monthly/quarterly dividend, as may be declared by the scheme, on the corpus accumulated, or

ii) By periodic withdrawal of a fixed amount opted by the investor by way of systematic withdrawals under the Systematic Withdrawal Plan (SWP) as provided for in the MIP scheme.

on the occurrence of either (a) corpus accumulation of RS 5 lakh and in multiples of Rs 1 lakh thereafter; or (b) continuous investment over a 5 year period or in multiples of a completed year thereafter.

The capital built in the scheme either through (a) or (b) would be retained either in growth option from which the SWP may be activated or can be switched over to the dividend option for periodic dividends (monthly/quarterly) as per the choice indicated by the investor.

If the investor/unit holder decides to discontinue the RCFP, they will have to submit a separate request to the AMC/MF for the same.