The new fund offer
opens for subscription on December 5th and closes on December 17th
IDBI Mutual Fund today announced the launch
of an open-ended IDBI Gilt Fund. The fund opens for subscription on December 5th
and closes on December 17th.
“IDBI Gilt Fund is an approved instrument for
investment by exempt provident funds, superannuation funds, gratuity funds and
also under the new pension scheme. IDBI Gilt Fund will invest in securities
which bear zero-credit risk and offer adequate liquidity. The fund will
dynamically manage duration of gilt securities so as to optimize returns, in
the backdrop of present uncertainties,” said Debasish Mallick, MD & CEO,
IDBI AMC.
Objective: The scheme aims to provide regular income
along with opportunities for capital appreciation through investments in a
diversified basket of central government securities, state government
securities, treasury bills and other instruments.
Benchmark:
CRISIL Gilt Index
Minimum
application: Rs 5000 through lump
sum and Rs 500 through SIPs
Exit
load: 0.5% if redeemed or
switched before 30 days
