IDBI Mutual launches Gilt Fund scheme
Dailybhaskar.com | Dec 04, 2012, 23:57PM IST
New Delhi: One of the countries premier lenders, IDBi launched a Gilt Fund scheme via their mutual fund arm. An open ended scheme, the New Fund Offer (NFO) will open for subscription on December 5, 2012 and close on December 17, 2012. The units will be available at par (Rs.10/-) during the NFO and at NAV related prices thereafter. The scheme will re-open for continuous sale and repurchase from December 27, 2012. 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 benchmark index for the fund is CRISIL Gilt Index.
Highlights of the offer
· An open ended dedicated gilt scheme.
· Opportunity to invest in Gilt Papers with a low lumpsum investment of Rs 5,000/-
· Approved investment for exempt Provident Funds, Superannuation Funds, Gratuity Funds and under New Pension Scheme
· Fixed Tenor Trigger (FTT) Plan
· Easy Exit : 0.5% for exit (repurchase/switch-out/transfer) within 30 days from the date of allotment
· Minimum investment lumpsum : Rs 5000. SIP : Rs 500/- per month
· SIP, STP and SWP facilities available
· Benchmark – CRISIL Gilt Index.
· NFO Period: December 5, 2012 to December 17, 2012.