“Indiabulls Liquid Fund” NFO accumulation
Mumbai, October 25: Indiabulls Mutual Fund (Indiabulls MF) has garnered Rs 1,107 crore through its maiden fund launch of Liquid Fund. Indiabulls MF is sponsored by Indiabulls Financial Services Limited (IFSL). This is the first instance in this calendar year till date that any mutual fund has mobilised more than Rs 1,000 crore in a single working day.
The new fund offer (NFO) opened for subscription on Monday, October 24, and closed the same day. The scheme will re-open for ongoing purchase and sale from October 28, 2011 at Net Asset Value (NAV) based prices. Indiabulls Liquid Fund is benchmarked against 'Crisil Liquid Fund Index'.
Indiabulls Mutual Fund has an edge over peers as it is sponsored by country's leading non-banking finance company (NBFC) Indiabulls Financial Services Ltd (IBFSL). The sponsor company has a net worth of Rs 4,661 crore with an asset book of over Rs 27,000 crore and has presence in over 87 cities and towns with a network of 170 branches.
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 Consumer Finance, Housing Finance, Commercial Loans, Asset Management and Advisory services. 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.
For further details, contact:
Manager, Corporate Communications – Indiabulls Group,
Indiabulls House, Indiabulls Finance Centre,
11th floor, Elphinstone Road, Mumbai: 400 013