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Tuesday, February 11, 2014

IDBI Mutual Fund launches IDBI Debt Opportunities Fund

NFO Period from 11 February 2014 to 24 February 2014 

IDBI Mutual Fund today announced the launch of IDBI Debt Opportunities Fund, an open ended income scheme, which is an accrual based product with focus on generation of interest income. The fund will invest in good quality rated corporate bonds through rigorous selection and monitoring process. The product is suitable for investors with medium to long term investment horizon. 

Highlights: 

• Open-ended income scheme 

• Accrual based product with focus on interest income through buys & hold strategy 

• Investment universe: Debt including securitized debt and money market instruments across the investment grade credit rating and maturity spectrum. 

• Benchmark – Crisil Short Term Bond Fund Index 

• Options for investment:
- Growth Option
- Dividend Option 

The New Fund Offer (NFO) will open for subscription on 11 February 2014 and close on 24 February 2014. The units will be available at par (Rs.10/-) during the NFO and at NAV related prices once the scheme reopens for subscription. The scheme will re-open for continuous sale and repurchase from 11 March 2014. 

The investment objective of the scheme is to provide investors with regular income and opportunities for capital appreciation while maintaining liquidity through active management of a diversified portfolio comprising of debt and money market instruments across the investment grade credit rating and maturity spectrum. 

Speaking on the occasion, Mr. Debasish Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said “The objective of the scheme is generation of interest income for investors. The launch has been timed to take advantage of the expected elevation in yield at the time of initial launch. The scheme proposes to invest in good quality rated bank and corporate papers of various maturity and duration and adopt a buy and hold strategy as well as benefit from opportunities that may arise on the credit curve.”
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