The new fund offer closes for subscription on January 11 and re-opens on January 25, 2013.
Indiabulls Mutual Fund announced the launch of its open-ended Indiabulls Gilt Fund which opened for subscription on December 28. The fund will invest a minimum of 65 % of its net assets in government securities and state government and a maximum of 35% in cash.
Gilt funds have been attracting a lot of investor attention lately on the expectations of an imminent rate cut by RBI, garnering net inflows of Rs 1006 crore in November.
Objective: The fund aims to generate income and capital appreciation by investing predominantly in sovereign securities issued by the central government (including treasury bills) or by state governments, without any restriction on the maturity of the portfolio.
Benchmark: CRISIL Gilt Index
Fund manager: Puneet Srivastava
NFO Date: December 28 – January 11
Exit Load: 0.25% if redeemed before one month from the allotment date
Minimum Application: Rs 5000
