Mumbai : The New Fund Offer (NFO) of IDBI Prudence Fund, an open ended balanced scheme launched by IDBI Asset Management Ltd., collected over Rs 230 crore, mainly from retail investors, including HNIs, according to a press statenment. Dilip Mandal, MD and CEO, IDBI Asset Management, said, “We launched IDBI Prudence Fund to fill the need in the market for balanced products. The encouraging response received by our NFO confirms this and re-affirms investors’ belief in the IDBI Brand. In these times of economic uncertainty, IDBI Prudence Fund offers asset diversification within one Fund through a balance between equity and debt.”
The investment objective of the scheme is to generate opportunities for capital appreciation along with income by investing in a diversified basket of equity and equity related instruments, debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be realized.
The NFO was open between October 3, 2016 and October 17, 2016. The scheme has re-opened for sale and repurchase from October 28, 2016.IDBI Asset Management Ltd. (Investment Manager of IDBI Mutual Fund) is a wholly-owned subsidiary of IDBI Bank Ltd. (Sponsor of IDBI Mutual Fund). The Fund House holds a strong presence in the country through its branches and distributor network, including IDBI Bank’s 1861 branches. IDBI Mutual Fund’s mission is to promote financial inclusion by assisting the common man in informed investment choices.
