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IDBI mutual’s new fund opens on Wednesday

Sneha Padiyath
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Debasish Mallick, MD&CEO, IDBI Asset Managemant Ltd, addressing a press conference to announce the launch of IDBI Gilt Fund in Mumbai on Tuesday. Photo: Paul Noronha
Business Line Debasish Mallick, MD&CEO, IDBI Asset Managemant Ltd, addressing a press conference to announce the launch of IDBI Gilt Fund in Mumbai on Tuesday. Photo: Paul Noronha

IDBI Mutual Fund today announced the launch of an open-ended gilt fund — IDBI Gilt Fund. The new fund offer opens on December 5 and closes on December 17.

The investment objective of the scheme is to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of central government securities, state government securities, treasury bills and similar other instruments.

The minimum investment into the fund is Rs 5,000, while the minimum SIP (systematic investment plan) amount is Rs 500. The fund has been benchmarked to CRISIL Gilt Index.

(This article was published on December 4, 2012)
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