Indiabulls Mutual Fund launched its maiden equity mutual fund, Indiabulls Blue Chip Fund on Friday.
“We would be specifically targeting blue chips in our portfolio as we believe that the Indian equity market is emerging out of dark shadows,” said Mr Sanjay Chandel, the Chief Executive Officer of Indiabulls Asset Management Company.
“We believe many fundamentally strong companies are available at attractive valuations and it is the right time to invest in such companies,” he added.
The primary investment objective of the open-ended equity scheme is to provide long term capital appreciation from a portfolio that is invested predominantly in equity and equity-related securities of blue chip large-cap companies.
The new fund offer opened on January 20 and closes on February 3. Normal minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. For a Systematic Investment Plan, the amount is Rs 1,000 and in multiples of Rs 1 thereafter.