Asset management company, IDBI Mutual Fund has proposed to introduce more equity products in the coming months, a senior official said today. "Presently, the equity markets is doing well... We want to introduce more equity products", IDBI Asset Management Company Executive Director B Sarath Sarma told reporters here. He said the company wanted to give more options to customers since equity market were doing well and that was the reason for their proposal to introduce more products in the equity market. "We want to give more choice to our customers and distributors",he said.
On the company's financials he said the company has Rs 6,100 crore of assets till December 31,2011 as compared to the year previous to it Rs 2000 crore. Sarma and senior officials were here to launch their new product IDBI Dynamic Bond Fund which was opened for subscription on Monday (January 31). It would invest in portfolio comprising debt instruments such as Government securities, public sector undertakings and corporate bonds and money market instruments. "This is a retail product. We look forward to better our earlier NFOs (New Fund Offer) and this becomes the flagship brand of IDBI", he said. The scheme will close on February 14 and would reopen for sale and repurchaese from February 23.
