Indiabulls MF launches 'short term fund'

MUMBAI: Indiabulls Mutual Fund today launched its third duration product 'Indiabulls short term fund', which is an open-ended debt scheme, the company said.

The new fund offer opens for subscription tomorrow and closes on September 5.

As per the company, this is the third duration fund, after the Indiabulls income fund and Indiabulls gilt fund.

According to fund house, the new product is aimed at those investors who are looking for stable returns in the short run.

"The recent measures by RBI have impacted bond yields across the board, with short-term interest rates moving up sharply. We believe these measures are short-term in nature and in the foreseeable future they could be reversed. Given this, short term funds appear to be attractive in the medium term," company's CEO Sanjay Chandel said.

Indiabulls MF had an average AUM of Rs 3,219 crore during the June quarter.