NFO will enable investors to be a part of the India Growth Story
IDBI Asset Management Ltd. (IDBI AMC), aÂ wholly-owned subsidiary of IDBI Bank Ltd,Â has launched its first new fund offer (NFO) for the Indian investors â€“ â€˜IDBI NIFTY Index Fundâ€™.
According to reports, this fund will give investors diversification across 50 stocks in 22 sectors and will represent over 60% of NSEâ€™s total market capitalisation.
Speaking about IDBI’s first New Fund Offer, Mr. Krishnamurthy Vijayan, MD & CEO of IDBI Asset Management Ltd., said,
â€œA Nifty Index Fund offers multiple advantages to existing as well as first-time investors. An investor can own the top 50 blue chip companies Â across 22 sectors which represent the India growth story. The fund portfolio is pre-defined and independent of human judgement. The investor will pay lower charges than what he would have to pay for an actively managed fund.â€
Visit www.idbimutual.co.in for more details