IDBI Gilt Fund, an NFO launched by the AMC has collected Rs 120 crore from 75 centres. The scheme will investment in central government dated securities, state government securities and treasury bills.
“We at IDBI Mutual fund are very happy with the overwhelming response to our latest offering - IDBI Gilt Fund. This instills confidence in IDBI Mutual Fund in its endeavor to present meaningful investment opportunities as a trusted and responsible partner,” said Debasish Mallick, Managing Director and Chief Executive Officer, IDBI Asset Management.
65 percent of the asset will be invested in Government of India dated Securities / State Government dated Securities / Government of India Treasury Bills / Cash Management Bills of Government of India and remaining 35 per cent in CBLO and repo/reverse repo in Central Government or State Government securities.
The fund will be managed by Gautam Kaul who has overall 11 years of experience in debt markets including 7 years in the mutual fund industry. The scheme reopens from 27th December.
