IDBI MF launches Debt Opportunities Fund

NFO Period: February 11, 2014 to February 24, 2014

February 10, 2014 1:43 IST | India Infoline News Service
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.

The New Fund Offer (NFO) will open for subscription on February 11, 2014 and close on February 24, 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 March 11, 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.

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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