IDFC MF Reopens its Largest Equity Fund for Lump Sum Investments

MUMBAI:
IDFC Mutual Fund, today, announced the reopening of its largest equity fund – IDFC Premier Equity Fund now called the IDFC Multi Cap Fund, for lump sum investments.
The fund which had a closing AUM of over Rs 5300 crore as on 31 st March, 2018 was only allowing investment through Systematic Investment Plan (SIP). With around 70% corpus coming through SIP, this has been a highly sought-after fund for SIP investors. Launched in September 2005, the fund was a first of its kind in the industry, focused on raising a limited corpus to match investible opportunities available, a pioneering concept in the Indian mutual fund industry. The fund was opened to lump sum investment for only 44 months in the last 12 years. However, it was always open for SIP purchases that led to its unique positioning in the industry. The fund has been a preferred choice for investors with a long term horizon. About 80% of investors in the fund have stayed for over five years which is significantly higher than the industry average.
Speaking at the occasion, Vishal Kapoor, CEO, IDFC Mutual Fund said, “One of our primary objectives is to create wealth for long term equity investors, and the IDFC Premier Equity Fund has had exceptional success in meeting this objective. It’s NAV has appreciated over 9 times since inception, indicating a compounded annual return of over 19%, a phenomenal record.  We are thankful to our channel partners who have continued to recommend this fund for meeting investors’ long term wealth creation needs”
The fund is being managed by Anoop Bhaskar, is an industry veteran with nearly 3 decades of experience, along with Kartik Mehta, who has over 12 years of experience in the fund industry. “The fund will focus on wealth creation by building a portfolio of companies where its primary ‘buy & hold’ strategy will be complemented with active management. The fund will look beyond traditional segments and take a comprehensive view on domestic consumption related opportunities. With favourable demographics, increase in purchasing power and growing urbanization, the canvas for consumption has become bigger and wider” said Anoop Bhaskar, Head – Equity, IDFC Mutual Fund.