"THROUGH this fund, we aim to provide an attractive investment solution to the conservative investors in India" Kenneth Andrade CIO, IDFC Mutual Fund
IDFC Mutual Fund on Wednesday announced the launch of a close-ended fund, which seeks to invest mainly in debt securities.
The fund -- IDFC Capital Protection Oriented Fund Series 1 -- seeks to protect capital by investing in high-quality debt securi- ties as the primary objec- tive, the company said in a statement here.
It intends to invest 85 per cent of the capital on debt instruments.
The 36-month fund also seeks capital appreciation by investing a part of the capital in equity market.
"Through this fund, we aim to provide an attractive investment solution to the conservative investors in India who have over Rs 4,600,000 crore invested in fixed deposits," Kenneth Andrade, chief investment officer of IDFC Mutual Fund, said. "Capital protection ori- ented schemes allow a con- servative investor to partic- ipate in the equity markets.The asset allocation to fixed income is made in such a way that the in- vestor capital is protected at all times," Ashwin Patni, fund manager of IDFC Mu- tual Fund, said.