IDBI Mutual Fund today launched 'IDBI Debt Opportunities Fund, which is an open-ended income scheme, with a focus on generation of interest income.
The scheme 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 opens for subscription on February 11 and closes on February 24, a company release said.
"The objective of the scheme is generation of interest income for investors. The launch has been timed to take advantage of the expected elevation in yield at the time of initial launch.
"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," Managing Director and Chief Executive Officer of IDBI MF Debasish Mallick said.
IDBI MF is a subsidiary of IDBI bank and has an average assets under management of Rs 5212 crore by the end of December quarter.
