IDBI Mutual Fund or IDBI MF has launched ‘IDBI debt opportunities fund’.
IDBI Mutual Fund on Monday launched ‘IDBI Debt Opportunities Fund. The Fund is an open-ended income scheme, with a focus on generation of interest income. The IDBI Debt Opportunities Fund will invest in good quality rated corporate bonds through rigorous selection and monitoring process and is suitable for investors with medium to long-term investment horizon.
The NFO for IDBI Debt Opportunities Fund opens for subscription on February 11 and closes on February 24, a company release said.
Purchase Window for IDBI Debt Opportunities Fund
The NFO for IDBI Debt Opportunities Fund opens for subscription on February 11 and closes on February 24, 2014.
How IDBI Debt Opportunities Fund works
The IDBI Debt Opportunities Fund works on the principle of generation of interest income for investors. In short an expert fund manager, possibly an investment expert, or group of experts, will choose the Corporate funds to invest in. Thus, even a person with no knowledge of Share market can benefit from the market.
On the launch, the Managing Director and Chief Executive Officer of IDBI MF Debasish Mallick said,
“The scheme proposes to invest in good quality rated bank and corporate papers of various maturity and duration and adopt a buy and hold strategy as well as benefit from opportunities that may arise on the credit curve,”
IDBI MF is a subsidiary of IDBI bank. IDBI MF has an AAUM (Average assets under management) of Rs 5212 crore by the end of December quarter.