IDBI new fund by the name of IDBI dynamic bond fund is open for subscription and all those in high tax bracket can make use of it to save tax. The issue is opening on 14 Feb 12 i.e. valentines day and closes on 23 Feb 2012. One can start with minimum Investment of Rs 5,000 and in multiples of Rs 1 thereafter. Just note that it has a 1% exit load.
The aim of fund is to generate income while maintaining liquidity through active management of a portfolio comprising of debt (0% – 100%) and money market (0% – 100%) instruments.
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