IDFC Asset Management Company launches Open-Ended Fixed Income Fund
Posted on:15 Feb 2017 09:30:02
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15 February 2017 Current Affairs: IDFC Asset Management Company launched an open-ended fixed income fund named Credit Opportunities Fund on February 13 in Mumbai which is expected to raise the revenue of the company in the range of Rs 300 crore-500 crore within the NFO period itself.
A new fund offer (NFO) is the first time subscription offer for a new scheme launched by the asset management companies (AMCs).
A new fund offer is launched in the market to raise capital from the public in order to buy securities like shares, govt. bonds etc. from the market.
The Credit Opportunities Fund will open for subscription on February 14 and close on February 27. It will reopen for continuous sale and repurchase from March 6, 2017.
The new fund scheme aims to optimise the higher risk associated with the credit fund category.
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