NFO will enable investors to be a part of the India Growth Story

IDBI Asset Management Ltd. (IDBI AMC), a  wholly-owned subsidiary of IDBI Bank Ltd,  has launched its first new fund offer (NFO) for the Indian investors – ‘IDBI NIFTY Index Fund’.

According to reports, this fund will give investors diversification across 50 stocks in 22 sectors and will represent over 60% of NSE’s total market capitalisation.

Speaking about IDBI’s first New Fund Offer, Mr. Krishnamurthy Vijayan, MD & CEO of IDBI Asset Management Ltd., said,

“A Nifty Index Fund offers multiple advantages to existing as well as first-time investors. An investor can own the top 50 blue chip companies  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.”

Visit www.idbimutual.co.in for more details

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Indian shares snapped a two-day falling streak to close 0.8 percent higher on Saturday buoyed by overnight gains on Wall Street, but BSE investors remained cautious about European debt and the global recovery.

The Bombay Stock Exchange benchmark Sensex resumed higher by 142 points and touched an intraday high of 15,951.07 points before ending at 15,915.65, a net rise of 124.72 points or 0.79 per cent from its last close, when it crashed by 434 points on global cues.

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US stocks rose yesterday on speculation that the European Union may propose a solution for Greece’s budget deficit. The Dow Jones Industrial Average closed flat after rising 163 points intraday due to last hour profit booking, while Nasdaq gained 0.74 per cent andthe S&P 500 0.29 per cent.

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