IDBI Mutual Fund has launched the NFO IDBI Fixed Maturity Plan - Series II - 366 Days (May 2012) - I, a close ended income scheme. The investment objective for the scheme will be to generate regular income through investments in debt and money market instruments.
The NFO opens for subscription on May 14, 2012 and closes on May 23, 2012. No entry and exit load charge is applicable for the scheme. The duration of the scheme will be 366 days from the date of allotment. The scheme offers dividend payout and growth option.
The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 10000 under dividend option and Rs 5000 under growth option & in multiples of Rs 1.
The fund manager of the scheme will be Gautam Kaul.
