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Thursday, May 17, 2012

IDBI Mutual Fund - IDBI India Top 100 equity fund

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IDBI Mutual Fund launched its maiden equity scheme called IDBI India Top 100 equity fund, probably in anticipation of a potential up move in equity markets going ahead after the recent slump. The NFO will be open for subscription from April 25 to May 9, and the scheme would invest in 25-30 stocks from the CNX 100 universe.

The fund will invest in stocks that have a good track record of consistent profitability, dividend payment and it should be liquid stocks.  Current market offers good valuation and macro-economic scenario is looking better. We expect growth of 7.5 per cent in 2012-13 and 8.5 per cent for 2013-14.

The MF company hopes to mop up capital in excess of Rs 100 crore. "We will follow bottoms-up approach and when things improve will use top-down approach," said V. Balasubramanian, VP & fund manager. On fund allocation to particular sectors, Balasubramanian said the scheme would invest in banking & finance, auto ancillary, FMCG and pharmaceutical stocks.

"We may also look at infrastructure stocks following some positive signals in the budget, but will stay away from realty stocks for time being," said Balasubramanian. When asked on whether the fund may look at acquisitions, Mallick said, "We are not looking at inorganic growth, but in due course we may look for tie-up in overseas markets."

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Best Performing Mutual Funds

    1. Largecap Funds:
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    3. Mid and SmallCap Funds
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    4. Small and MicroCap Funds
      1. DSP BlackRock MicroCap Fund
    5. Sector Funds
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    6. Gold Mutual Funds
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

 

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