IDBI Mutual Fund has announced the launch of an open-ended equity fund — IDBI India Top 100 Equity Fund. The new fund offer will open on April 25 and close on May 9.

The fund will invest in equity and equity-related instruments of companies that are constituents of the S&P CNX Nifty Index (Nifty 50) and the CNX Nifty Junior Indices comprising a total of 100 stocks, said a release from the company. The benchmark for the fund will be the CNX 100 Index.

The minimum investment into the fund is Rs 5,000 and in multiples of Re.1 thereafter.

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