Indiabulls Mutual Fund has come out with an open-ended debt fund, ‘Indiabulls income fund’, which would invest in fixed income securities.
The new fund offer is open for subscription till February 26.
Addressing presspersons here on Friday, Udayan Basu (Director-sales and marketing), said the industry was witnessing sizable inflows into the debt schemes with a decline in interest rates. There would be huge appetite from investors for income funds with a further decline expected in interest rates, Mr. Basu said.
The mutual fund house had so far launched seven products with six of them on the debt side. The product now launched is the first debt product for retail investors, he said.
Mr. Basu said a gilt fund was launched last month which collected more than Rs. 100 crore.
