IDBI Mutual Fund has launched its dividend yield fund called IDBI Dividend Yield Fund. The NFO of the fund is currently open for subscription and will close on December 17, 2018.
IDBI Dividend Yield Fund is an open-ended equity scheme which will mainly invest in dividend yielding stocks. The scheme aims to generate long-term capital appreciation and distribute dividend.
In a press release, Dilip Mandal MD and CEO, IDBI AMC, said, "Consistent return history of dividend yield strategy provides ample scope of attractive capital appreciation for investors going forward also."
Ashish Mishra, Fund Manager-Equity will manage the fund. The scheme’s benchmark is Nifty Divided Opportunities 50 – Total Return Index (TRI).
