Indiabulls Mutual Fund, launches its second duration product, Indiabulls Income Fund, an Open ended debt Scheme.
The new fund offer (NFO) will open for subscription on 12th February, 2013 and close on 26th February' 2013. The fund will have regular investment options like Growth and Dividend, with a minimum subscription of Rs 5,000/. Indiabulls MF launched its duration product first offerings namely, Indiabulls Gilt Fund in January, 2013 and had collections of more than Rs. 100 Cr.
Announcing the NFO, Mr. Sanjay Chandel, C.E.O of Indiabulls Mutual Fund said, "With interest rates on the decline for the past one year, Income Funds appear to be a worthwhile investment option for an investor for medium to longer term. This is our first debt product for the retail investors who are the backbone of the Mutual Fund industry. With a healthy appetite we expect a good response from this segment for our NFO."