IDBI Mutual Fund launches IDBI Debt Opportunities Fund

IDBI Mutual Fund has launched new scheme as IDBI Debt Opportunities Fund, an open ended income scheme. 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.

The New Fund Offer (NFO) will open for subscription from 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 scheme offers growth and dividend option under both regular plan and direct plan. The dividend option under both Plans offers Quarterly & Annual (sub-options with dividend payout, dividend re-investment and dividend sweep).

The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter.

Entry load charge will be Nil for the scheme.

Exit Load: 2% for exit (Redemption/Switch-out/Transfer/SWP) up to & including 18 months from the date of allotment and Nil after 18 months.

The scheme would invest 0-90% of assets in debt instruments including securitized debt instruments with low to medium risk profile and invest 10-100% in money market instruments with low risk profile.

The Benchmark Index for the scheme is Crisil Short Term Bond Fund Index.

The fund managers of the scheme will be Mr. Gautam Kaul and Mr. Anil Dhawan.