IDBI Mutual Fund on Tuesday announced the launch of IDBI Gilt Fund, an open ended dedicated gilt scheme.
The New Fund Offer (NFO) will open for subscription on Dec 5 and close on Dec 17.
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 Dec 27.
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.