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IDFC Mutual Fund has announced that the name of its scheme IDFC Dynamic Equity Fund has been changed to IDFC Balanced Advantage Fund with effect from 3rd May 2021. The scheme continues to remain an open-ended dynamic asset allocation fund investing inequity, derivatives and debt and money market instruments.

The scheme is suitable for investors who are looking to create wealth over the long term, between 3 to 5 years. The current asset allocation of the fund towards equity under this scheme is 36.3%, debt is 30.7% and cash and cash equivalents is 33%. The top 5 sectors in which it is exposed are financial services, technology, construction, automobile and FMCG.