IDBI Asset Management Ltd on Wednesday said its IDBI Gilt Fund, the New Fund Offer (NFO), has received an overwhelming response from investors in 75 centres. The NFO collected over Rs 120 crores.
Commenting on the success of IDBI Gilt Fund, Debasish Mallick, Managing Director and Chief Executive Officer, IDBI Asset Management Ltd, said: "Investors have again reposed faith and trust in us. This instills confidence in IDBI Mutual Fund in its endeavour to present meaningful investment opportunities as a trusted and responsible partner."
IDBI Gilt Fund is designed with the purpose to provide regular income to investors along with opportunities for capital appreciation through investments in a diversified basket of central government dated securities, state government securities, treasury bills and similar other instruments issued by Central and State Governments.
It is also an approved investment option for exempt Provident Funds, Super-annuation Funds, Gratuity Funds and New Pension Scheme.
The IDBI Gilt Fund NFO closed on Dec 17.
The scheme will re-open for continuous sale and repurchase at NAV related prices from Dec 27.