IDFC Mutual Fund with effect from May 14, will rename and revise the categories and asset allocations of IDFC Equity Fund and IDFC Super Saver Income Fund-Short Term plan.

This revision is a result of changes made by SEBI on October 6. The revised guidelines requires fund houses to harmonise all existing and future schemes into 5 broad categories and 36 sub-categories for ease in investing.

It will also introduce quarterly and annual dividend options under the regular and direct plan of IDFC Super Saver Income Fund-Short Term Plan, along with its existing dividend option.

Further, those unit holders who do not agree with the changes can avail the exit option from Wednesday until May 11 without paying any exit load, while all other features of the scheme will remain same.

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