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IDBI Mutual Fund has announced the launch of an open-ended debt scheme – IDBI Dynamic Bond Fund. The new fund offer will open on January 31 and close on February 14. The scheme will re-open for sale and purchase from February 23.
The scheme will invest zero to 100 per cent of its corpus in government securities, treasury bills, PSU bonds and corporate bonds across various maturities. The benchmark for the scheme is the Crisil Composite Bond Fund Index.
The investment objective is to generate income while maintaining liquidity and asset quality through active management of the portfolio, said a release from the company.
Acknowledging that debt funds are the flavour of markets because of the poor performance of the equity markets, Mr Debashish Mallick, MD & Chief Executive Officer of IDBI Asset Management, said that debt could be a better option for some time to come. “There is some more time for stability to return in the equity markets.”
He saidthat the scheme would take “active calls on duration and interest rates and create and modify the portfolio in line with the changing macroeconomic and interest rate environment”.
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