IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series - 177, a close-ended debt scheme. The tenure of the scheme is 1160 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 March 2019 to 12 March 2019.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.

The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.

The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.

Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry load and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is Crisil Composite Bond Fund Index.

The fund manager of the scheme is Anurag Mittal.