Indiabulls Mutual Fund launches maiden equity scheme
Mumbai, January 20, 2012: Indiabulls Asset Management Company Limited (IBAMC), sponsored by Indiabulls Financial Services Limited (IBFSL), on Friday launched its maiden equity mutual fund - INDIABULLS BLUE CHIP FUND.
IBFSL is one of India’s leading and fastest growing private sector financial services companies and an integrated financial services powerhouse providing Consumer Finance, Housing Finance, Commercial Loans, Asset Management and Advisory services.
“We are launching our first equity mutual fund product today. We would be specifically targeting Blue Chips in our portfolio as we believe that the Indian Equity market is emerging out of dark shadows. We believe many fundamentally strong companies are available at attractive valuations & it is the right time to invest in such companies," Mr Sanjay Chandel, Chief Executive Officer (CEO) of IBAMC said.
The S&P CNX Nifty is the benchmark for the Scheme as it is a well diversified 50 stock index representing 21 different sectors of the economy, Mr Chandel said.
The company has already come out with two offerings namely Indiabulls Liquid Fund and Indiabulls Ultra Short Term Fund. It collected more than Rs. 1,100 crore in Liquid Fund NFO and Rs. 555 crore in Ultra Short Term NFO.
Scheme Details As follows:
Name of the Scheme: INDIABULLS BLUE CHIP FUND
Type of Scheme: An Open-ended Equity Scheme
New Fund Offer opens on: January 20, 2012
New Fund Offer closes on: February 03, 2012
Investment objective: The primary investment objective of the Scheme is to seek to provide long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of blue-chip large-cap companies. However there can be no assurance that the investment objective of the scheme will be achieved.
Minimum application amount: Rs. 5,000 and in multiples of Re. 1 thereafter: Rs. 1,000 and in multiples of Re. 1 thereafter (For Systematic Investment Plan) (SIP).
Benchmark: The S&P CNX Nifty
Asset Allocation: 65-100% in Eq. & Eq. related Securities of Blue Chip Large Cap Companies; 0-35% in Eq. & Eq. related Securities of Other Companies & 0-35% in Debt & Money Market Instruments.
Load Structure: Entry Load: Not Applicable; Exit Load: 1% if redeemed/switched out within first year & Nil - if redeemed/switched out after one year.
About Indiabulls Mutual Fund:
Indiabulls Mutual Fund is a SEBI registered Mutual Fund has been established as a Trust with Indiabulls Financial Services Ltd as its Sponsor and Indiabulls Trustee Company Ltd as its Trustee.
Indiabulls Financial Services Limited (IBFSL) is one of India’s leading and fastest growing private sector financial services company providing home loans, sme loans, commercial vehicle loans and corporate loans. The company is focused on providing multiple financial services through an extensive network of consumer touch-points. IBFSL serves more than 500,000 customers across different financial products through its branch network, call centre & the internet. It also ranks among the top private sector financial services group in terms of networth. The company is focused on providing multiple financial services through an extensive network of consumer touch-points covering Tier 1, Tier 2 & Tier 3 cities.
Manager - Corporate Communications & PR - Indiabulls Group, Mumbai
Tel : 022 - 30866263 / 9920922764