- IDBI Fixed Maturity Plan 367 Days – Series 1-A
- IDBI Fixed Maturity Plan 90 Days – Series 1-A
IDBI Mutual Fund today announced the launch of IDBI Fixed Maturity Plan 367 Days – Series 1-A and IDBI Fixed Maturity Plan 90 Days – Series 1-A. Both are close-ended debt schemes. The funds will be open for subscription from February 10, 2011 to February 17, 2011 and February 14, 2011 to February 22, 2011 respectively. The duration of the funds will be for 367 days and 90 days respectively from the date of allotment. The FMP 367 Days – Series 1 scheme will be benchmarked against the CRISIL Short Term Bond Fund Index and the FMP 90 Days – Series 1 will be benchmarked against the CRISIL Liquid Fund Index. Mr. Gautam Kaul is the Fund Manager for both these schemes.
Speaking about the Funds, Gautam Kaul, Fund Manager, IDBI Asset Management Ltd. said “The focus of these Fixed Maturity Plans is to provide reasonable returns while exposing the investor to a lower level of risk. It will invest in a portfolio of fixed income securities with maturity periods that are in line with the maturities of respective plans. Added to this is the tax efficiency of these schemes which make the post tax returns even more attractive"
The minimum application amount for both schemes during NFO is Rs. 5000 and in multiples of Re 1 thereafter, and the schemes offer, both, Growth and Dividend Payout option. The investment objective of both plans under the respective schemes is to generate regular income through investments in debt and money market instruments. The Plans will invest in Debt (including government securities, floating rate debt instruments and securitized debt) and Money market instruments.
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd is a wholly owned subsidiary of IDBI Bank Ltd. The Sponsor for the IDBI MF 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.
