Indiabulls Mutual Fund announced the launch of an open ended debt scheme called Indiabulls Income Fund. The scheme opened for subscription today and closes on 26th February’ 2013.
The minimum subscription amount under this fund is Rs 5000.
“With interest rates on the decline for the past one year, Income Funds appear to be a worthwhile investment option for an investor for medium to longer term. This is our first debt product for the retail investors who are the backbone of the Mutual Fund industry. With a healthy appetite we expect a good response from this segment for our NFO,” said Sanjay Chandel, C.E.O of Indiabulls Mutual Fund.
Indiabulls recent fund launch - Indiabulls Gilt Fund collected more than Rs. 100 crore. Indiabulls AMC currently manages Rs 2553 crore.
