IL&FS Asset Management Company will launch its new debt scheme, the Gilt Fund (100 per cent in government securities) soon. The AMC has already received the Securities and Exchange Board of India's (Sebi) approval for the fund.
Vibhav Kapoor, managing director said: "We will be launching 2-3 new schemes in the debt and equity sides by the end of the financial year".
On the debt side, IL&FS has the IL&FS Bond Fund and the IL&FS Liquid Fund. The IL&FS Bond Fund has a net asset of about Rs 100 crore, and 20 per cent of the investments in this fund has been in government securities and 80 per cent in bonds and corporate debt.
The IL&FS Liquid Fund is also an open-ended debt scheme with net assets of about Rs 90 crore and 92 per cent of the investment is in the debt /money market /repo.
Kapoor said, while the equity market is strengthening, the debt market is yet to pick up. "The sectors with significant growth potential are technology, cement, refinery and public sector enterprises" he added.
On the equity side, the AMC has schemes such as the Growth & Value Fund -- a diversified portfolio with investments in banking, finance, cement and computer software.
In October, while the broadbased indices -- the Nifty and Sensex -- gained 10 per cent, the Growth & Value Fund gained 12 per cent. Meanwhile, its eCOM Fund gained 21.6 per cent as against the BSE IT index, which zoomed 36 per cent. The eCOM Fund comprises Indian IT and e-commerce companies. The fund's net assets are around Rs 50 crore.
