Indiabulls Mutual Fund has launched Indiabulls Gilt Fund, an open ended debt scheme that seeks to generate income and capital appreciation by investing predominantly in sovereign securities issued by the Central Government (including Treasury Bills) and / or by State Governments, without any restriction on the maturity of the portfolio.
The new fund offer (NFO) opens for subscription from December 28, and will close on January 11, 2013. The scheme re-opens on or before 25 January 2013. The New Fund Offer (NFO) price for the scheme is Rs 1000 per unit.
The scheme offers growth, dividend (pay-out & re-investment) & bonus options. The Bonus Option offers Auto Investment Redemption Facility (AIRF) and Auto Bonus Units Redemption Facility (ABRF) as sub option. All these Options/ Sub-Options have Direct & Indirect Plan.
The scheme would allocate 65% to 100% of assets in securities created and issued by central government and / or state governments including t-bills. On the other side it would allocate upto 35% of assets in cash & cash equivalents securities, CBLO, repos & reverse repos in government securities.
The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
Benchmark Index for the scheme will be CRISIL Gilt Index.
The scheme will be manage by Puneet Srivastava.
ADS BY GOOGLE
video of the day
All portents good; optimistic for next few Diwali's: Damani