Trust Mutual Fund’s maiden NFO – Trust MF Banking & PSU Debt Fund has successfully raised Rs.583 crore. Overall, the fund house has received application from over 500 investors.
The open-ended debt scheme will predominantly invest in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds.
In a press release, Sandeep Bagla, CEO of Trust AMC said, “The overwhelming response strongly reflects the confidence shown by the investors in our robust methodology developed in partnership with CRISIL, which aims to make the investment process in fixed income securities more systematic, transparent and objective.”
Abhishek Dev, Chief Business Officer of Trust AMC added, “The success of this NFO demonstrates that there is space for new mutual funds who bring in meaningful differentiation for its investors and partners.”
