Indiabulls Mutual Fund (Indiabulls MF) has garnered Rs 102 Crore through its first duration product, Indiabulls Gilt Fund.
The new fund offer (NFO) opened for subscription on 28th December, 2012, and closed on 7th Jan, 2013. The scheme will re-open for ongoing purchase and sale from January, 11th, 2013 at Net Asset Value (NAV) based prices. Indiabulls Gilt Fund is benchmarked against 'Crisil Gilt Index' and is rated "AAAmfs" by Crisil.
Indiabulls Mutual Fund has shown an impressive business growth. The Fund achieved the mile stone of Rs 3000 Cr of AUM in its first year of operations in Oct, 2012. The Fund presently has seven schemes and operates from ten cities across the country.
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 over Rs 5,300 Cr with an asset book of over Rs 31,000 Cr and has a network of 192 branches.