Indiabulls Mutual Fund has garnered Rs 1,107 crore through its maiden liquid fund, which was open for subscription for just one day.
This is the first instance in this calendar year that any mutual fund has mobilised over Rs 1,000 crore in a single working day, Indiabulls MF claimed in a statement.
The new fund offer (NFO) opened for subscription on Monday (October 24), and closed the same day. The scheme will re-open for purchase and sale from October 28 at the net asset value (NAV) based prices.
The fund is benchmarked against 'Crisil liquid fund index'. The fund house is sponsored by Indiabulls Financial Services (IFSL), which has a net worth of Rs 4,661 crore with an asset book of over Rs 27,000 crore.