IIFL Mutual Fund has launched its 1st debt scheme, IIFL Fixed Maturity Plan Series 1. The scheme is a close ended income scheme for a tenure of 550 days.
The performance of the scheme would be benchmarked against CRISIL Short Term Bond Index. The scheme opened on January 13, 2012 and closes for subscription on January 19, 2012.
Gopinath Natarajan, Chief Executive Officer, India Infoline Asset Management Co. Ltd says “The rate cycle seems to have peaked, as inflation and growth data have started trending down. In the current environment of high interest rates, it makes sense for investors to invest in FMPs which endeavour to lock in returns by investing in instruments maturing on or before the maturity of the Scheme.
FMPs are an ideal platform to capitalize prevailing high yields, without assuming the volatility risk of investing in a duration product.”