Mumbai, January 17, 2012: IDBI Mutual Fund has introduced Regular Cash Flow Plan as an added feature under IDBI Monthly Income Plan (MIP). RCFP provides investors with an additional income stream by way of regular cash flow to take care of future projected needs.
RCFP investors can make a lump sum or continuous investment or open a Systematic Investment Plan (SIP) with step up/enhanced amount facility, under Growth option of IDBI Monthly Income Plan. After completion of 5 years of continuous investment or accumulation of a minimum corpus of Rs 5 Lakhs, the amount would be switched over to earn monthly/quarterly dividend. Investors can also opt for Systematic Withdrawal Plan (SWP) instead of dividend.
The objective of RCFP is to provide regular cash flow in perpetuity or over a protracted period to meet various life cycle needs. Investors can now choose the RCFP features, most suitable to them at the time of initial investment itself. The Plan would be particularly beneficial for an investor looking at a regular income flow after a period of time.
IDBI MIP is a debt-oriented scheme with investment in debt products upto atleast 80% of its corpus. The existing dividend and growth options under IDBI MIP continue.
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a wholly-owned subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund’s mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets.” www.idbimutual.co.in
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully before investing.