Morgan Stanley today announced the launch of its Morgan Stanley Gilt Fund. The fund opens for subscription today and closes on February 21, 2013.
The scheme seeks to generate returns primarily through investments in sovereign securities issued by the central government or a state government or repos/reverse repos in such securities.
The fund will be benchmarked against the I-SEC Composite Gilt Index and will be managed by Ritesh Jain, Head of Fixed Income and Lead Portfolio Manager, Fixed Income Boutique at Morgan Stanley Mutual Fund.
Recently Indiabulls and IDBI also launched their gilt funds. BNP Paribas is also planning to launch its BNP Paribas Government Securities Fund. According to AMFI data, the net inflows in this gilt funds stood at Rs 2551 crore for the period April to December. The assets under management almost doubled from Rs 3442 crore in April 2012 to Rs 6500 crore in December 2012.
