IDBI Mutual Fund is launching a close-ended debt scheme offering five plans of tenor from 30 days to 60 months, India Infoline reports. Each plan under the IDBI Fixed Maturity Plan - Series II will seek to generate regular income via investments in debt and money market instruments.
The scheme will invest up to 100% in debt, including government securities, floating rate debt instruments and securitized debt and money market instruments. Gautam Kaul is the manager of the scheme.
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