IDBI Mutual Fund has unveiled two new close ended income schemes, India Infoline reports. Both the plans, the IDBI FMP 395 Days Series I (June 2011) – C and the IDBI FMP 367 Days Series I (June 2011) – E, will be open for subscription on June 6, 2011.
The plans will aim to invest in debt and money market instruments. The schemes, to be managed by Gautam Kaul, will track the performance of the CRISIL Short Term Bond Fund Index.
