IDBI Mutual Fund’s New Fund Offer, IDBI Short Term Bond Fund, opens for subscription on March 17, 2011. The offer closes on March 22, 2011. The investment objective of the IDBI Short Term Bond Fund, an open-ended debt scheme, is to provide investors with regular income through an allocation of the investment corpus in a diversified portfolio of debt and money market instruments. The fund performance will be benchmarked against CRISIL Short Term Bond Fund Index. Mr. Gautam Kaul is the fund manager of the scheme.
The asset allocation pattern of the scheme will be 65-100% in debt / money market instruments(including floating rate debt instruments and securitized debt) with maturity/residual maturity up to and including 2 years and 0-35% in debt instruments(including floating rate debt instruments and securitized debt) with duration/maturity/residual maturity above 2 years and not exceeding 3 years.
The scheme will re-open for continuous sale and repurchase w.e.f. March 24, 2011.
Speaking on the NFO, Mr. Gautam Kaul, Fund Manager – Fixed Income, IDBI Asset Management Ltd, said, "With short term rate at current levels, we believe that risk-reward is favourable and provides both attractive carry yield and an opportunity for capital gains."
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a wholly owned subsidiary of IDBI Bank Ltd. The Sponsor for the IDBI Mutual Fund is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd.
For further details, please contact Ms Arpana Bhatia, tel. no. 022-66096104 or visit www.idbimutual.co.in
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully.
