Indiabulls MF launches open-ended debt scheme 'income fund'

MUMBAI: Indiabulls Mutual Fund today said it has launched a new fund named ' Indiabulls Income Fund', which is an open-ended debt scheme.

The new fund offer has opened for subscription from today and would close on February 26.

"With interest rates on the decline for the past one year, income funds appear to be a worthwhile investment option for an investor for medium to longer term.

"This is our first debt product for the retail investors... With a healthy appetite, we expect a good response from this segment for our NFO," Indiabulls Mutual Fund Chief Executive Sanjay Chandel said.

The mutual fund house, which presently has seven schemes, has an average assets under management of Rs 2,552 crore during the October-December period.