About IDBI Mutual Fund
Mutual funds are the pool of funds that are collected from various investors and invested their money in varied portfolio ensuring long-term capital gains by maximizing profit and minimizing risk. These funds are invested in various securities in the market such as debts, money markets, stocks, etc. Investing in IDBI Mutual Fund is a smart option than the traditional investing options such as Recurring Deposits (RD), Post Office Savings Scheme (POSS), and Fixed Deposits (FD). These types of savings schemes will give you a return parallel to inflation rate only. On the other hand, mutual fund plans yield returns, which supersede the conventional investment tools.
IDBI Mutual Fund offers a great set of a mutual fund to its investors. At present, IDBI Mutual Funds’ Assets under Management (AUMs) are around Rs. 6774.88 Crore with 88 schemes. The investors can select from various options and can make the investment in the fund scheme, which is suitable for their needs and aids them to fulfill their long-term financial goals and dreams.
|Mutual Fund||IDBI Mutual Fund|
|Founded on||March 29, 2010|
|Date of Incorporation||January 25, 2010|
|Sponsored by||IDBI Bank|
|Trustee||IDBI MF Trustee Company Ltd.|
|CEO/MD||Mr Dilip Kumar Mandal|
|CIO||Mr V. Balasubramanian|
|Assets Managed||Rs. 9960.76 Crore (Until September 30, 2018)|
|Address||4th Floor, IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra|
IDBI Mutual Funds Types
There are various types of mutual funds offered by IDBI. They are:
IDBI Debt Funds
Debt funds by IDBI mutual funds are invested in a mix of debt funds and fixed income funds such as Treasury Bills, Corporate Bonds, and Government Bonds. Generally, the debt funds come with a pre-determined date of maturity and offer investors with a fixed interest rate.
Top 10 IDBI Debt Funds are as follows
Name of the Fund Details of the Funds Risk AUM (in INR) IDBI Diversified Equity Fund-Direct Plan – Dividend Open-ended diversified, equity-related and equity-related tools Moderately High 12.05 IDBI Diversified Equity Fund It is a regular, open-ended diversified equity and equity related instruments Moderately High 424.45 IDBI Equity Advantage Fund-Direct Plan – Growth ELSS, open-ended, direct and regular, equity-related and equity instruments Moderately High 9.83 IDBI Monthly Income Plan – Growth Debt, open-ended instrument, direct and regular with Dividend and Growth options, and MIP Aggressive Moderate 15.19 IDBI Debt Opportunities Fund – Growth Debt, open-ended instrument, direct and regular with Dividend and Growth options, and Regular Income Moderate 184.15 Crore IDBI Dynamic Bond Fund – Growth Open-ended Government Securities, debt instruments produce income, direct and regular with Dividend and Growth options in both Moderate 71.89 Crore IDBI Gilt Fund – Growth T-bills, regular income, State and Central Government Securities, direct and regular with dividend and growth option in both Moderate 16.38 Crore IDBI Short-term Bond Fund Money and Debt Market instruments, Regular Income, Direct and Regular with Dividend and Growth options in both Moderately Low 87.56 Crore IDBI Ultra Short-term Fund – Growth Open-ended, regular income, Direct and Regular Dividend and Growth options in both Moderately Low 348.58 Crore IDBI Liquid Fund Growth Open-ended, regular income, Direct and Regular with Dividend and Growth options in both Low 725.81 Crore
IDBI Equity Funds
IDBI Equity Funds are also called stock funds. The key objective is the capital growth by making the investment a majority of funds in the stocks and making an investment in the small fractions in government securities, notes and bonds. These can be both close-ended and open-ended funds and permits the investor to make an investment in small fractions in a diversified portfolio with expert fund managers’ help.
Top 10 IDBI Equity Funds are as follows:
Name of the Fund Details of the Funds Risk AUM (in INR) IDBI Diversified Equity Fund-Direct Plan – Dividend Open-ended diversified equity and equity-related and equity investment tools Moderately High 12.05 IDBI Diversified Equity Fund It is a regular plan. Open-ended diversified, equity-related and equity investment instruments Moderately High 424.45 IDBI Equity Advantage Fund-Direct Plan – Growth ELSS, Open-ended, equity-related and equity investment tools, direct and regular plans Moderately High 9.83 IDBI Equity Advantage Fund-Regular Plan – Growth ELSS, Open-ended, equity-related and equity investment tools, direct and regular plans Moderately High 456.32 IDBI India Top 100 Equity Fund-Direct Plan – Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 17.61 IDBI India Top 100 Equity Fund Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 342.49 IDBI Nifty Junior Index Fund – Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 2.17 Crore IDBI Nifty Junior Index Fund Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 30.52 Crore IDBI Nifty Index Fund-Direct Plan – Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 34.74 IDBI Nifty Index Fund Growth Derivative and NIFTY 50 Index Instruments, Regular, open-ended, and Dividend Options Moderately High 98.52 Crore
IDBI Exchange Traded Funds
The exchange-traded funds (ETF) by IDBI are funds that are traded on the stock funds. The ETFs are securities that are designed as per the trends of the market that keeps a track of bonds, commodity, index or assets.
Top IDBI Exchange-Traded Funds
Name of the Fund Details of the Funds Risk AUM (in INR) IDBI Gold Exchange Traded Fund Physical Gold Price, money and debt market instruments, open-ended Moderately High 98.95 Crore
IDBI Gold Funds
Under the IDBI Gold Funds, the investors can make an investment in a different variety of gold including gold bullions or gold or in stocks that are offered by gold mining companies.
Top IDBI Gold Funds
Name of the Fund Details of the Funds Risk AUM (in INR) IDBI Gold Fund – Growth Domestic Gold Price, Open-ended Moderately High 54.71 Crore IDBI Gold Fund-Direct Plan – Growth Domestic Gold Price, open-ended Moderately High 1.33 Crore
IDBI Mutual Fund Benefits
There are a number of benefits of investing in the IDBI Mutual Fund Schemes. They are as follows:
- The portfolio of IDBI Mutual Funds looks forward to minimizing the risk by making investment across different industries.
- It is easy to invest in these funds and easy to redeem.
- IDBI MF offers features such as the Systematic Transfer Plan, Systematic Investment Planning, and the Systematic Withdrawal Plan. Many funds also permit swapping between funds such as equity to debt.
- IDBI MF schemes are completely transparent and declare daily Net Asset Value (NAV) and their portfolio on a regular basis.
- Securities and Exchange Board of India (SEBI) regulate the mutual funds to safeguard the interests of the investors.
- IDBI MFs have experienced fund managers and the investors can feel protected for the investments they make in the mutual fund schemes by IDBI.
IDBI Tax Saving Mutual Funds
IDBI Mutual funds enable the investors to avail tax benefits by making an investment in the tax saving mutual funds. The investors investing their money into IDBI Equity Advantage Funds can benefit from the returns provided by the funds along with tax exemptions under Section 80C of the IT Act 1961.
Who are eligible for the IDBI Mutual Funds?
The entities below are eligible for IDBI Mutual Fund Schemes:
- A resident of India who has attained 18 years of age
- Legal guardians or parents on behalf of the individuals who are below 18 years
- Partnership firms
- Kartas of Hindu Undivided Families (HUFs)
- Non-resident Indians (NRIs)
- Insurance companies, banks and financial institutions
- Navy, Air Force, Army and other paramilitary bodies.
- Provident Fund, Pension, and Gratuity to whatever extent they’re allowed.
- Religious trusts and Charitable trusts
- Mutual Fund plans registered with the SEBI – Securities and Exchange Board of India.
- Societies, Association of persons, Companies, Bodies of Individuals, and Public Sector Undertaking registered under Societies Registration Act, 1860.
- Scientific and Industrial Research Organisations.
- Overseas financial firms that are a part of the agreement to make an investment in India.
- Multilateral funding agencies and corporate bodies formed outside India, with Reserve Bank of India’s or Indian Government’s permission.
Documents Required for the IDBI Mutual Funds
The investor would require the following documents to make an investment in IDBI Mutual Funds:
- Proof of Identity (AADHAAR card, PAN Card, Voter ID, Driving License, or Passport)
- Proof of Address (AADHAAR Card, Voter ID, Driving License, or Passport)
- Application Form
- KYC Documents
How to make Investment in IDBI Mutual Funds online?
In order to make an investment in IDBI Mutual Funds online, you need to follow the procedure mentioned below:
Step 1: Visit the official website of IDBI Mutual Funds, www.idbimutual.co.in and click on the ‘Invest Now’ tab.
Step 2: Click on ‘New Investor’, if you’re investing in for the first time.
Step 3: You’ll be redirected to a page where you’ll have various scheme categories and you have to choose one scheme in which you wish to invest. You’ll be required to choose the mode of the investment. After this, you a list of options will appear. To select the plan in which you wish to invest, hit the ‘Go’ option under ‘Transact’ tab.
Step 4: After this, you’ll be redirected to a fresh page where you’ll be required to fill-in the details of your investment with your personal details including name, residential category, date of birth, contact details, occupation, country of birth, etc. Submit the form once you fill-in the pre-requisite details by clicking on ‘Submit’ tab.
Step 5: You can make payment to the fund house and complete the transaction.
IDBI Fund Managers
Fund managers of IDBI Mutual Funds are:
Mr. V Balasubramanian:
Mr V Balasubramanian has more than 16 years of experience in the mutual funds segment with a total experience of over 34 years. He was a part of the treasury department of the Indian Bank for around 8 years. He was the Senior Manager there.
- Balasubramanian manages the following IDBI MF:
- IDBI Monthly Income Plan (Equity Component)
- IDBI Diversified Equity Funds
- IDBI Equity Advantage Funds
- IDBI India Top 100 Equity Funds
Mr. Anshul Mishra:
Mr Mishra has spent 7 years of his time in the Stock Market, out of these 4 years in the Equity/stock fund management in MF. Prior to this, he worked with IDBI Bank’s Treasury Department and he also worked with ING Investment Management Private Limited as a fund manager.
He manages the following funds:
- IDBI Rajiv Gandhi Equity Savings Plan – Series I Plan A ( as an Assistant Fund Manager)
- IDBI Gold Fund
- IDBI Gold Exchange Traded Fund
- IDBI Nifty Junior Index Fund
- IDBI Nifty Index Fund
Mr. Gautam Kaul
With a total experience of 13 years, Mr Gautam Kaul is another key Fund Manager of IDBI Mutual Funds. Out of his overall 13 years of experience, he has spent 9 years in the mutual fund segment. Before this, he worked with Religare Mutual Fund as a fund manager.
Mr Kaul manages the following mutual funds by IDBI:
- IDBI Debt Opportunities Fund
- IDBI Ultra Short-term Fund
- IDBI Liquid Fund
Mr. Ganti N. Murthy
Mr Ganti N. Murthy is leading Fixed Income and takes care of the strategy, planning, monitoring, and supervising the performance of all the debt fund schemes in IDBI Mutual Fund. Before this, he worked with Peerless AMC as a head of the Fixed Income. He has an experience of 21 years of exceptional experience in the MF sector. He worked with SBU Funds Management Company Limited, Cholamandalam Asset Management Company and UTI Asset Management Company in various competencies of the Fund Management Department.
He manages the following Mutual Funds:
- IDBI Dynamic Bond Fund
- IDBI Short-term Bond Fund
- IDBI Fixed Maturity Plans
- IDBI Gilt Fund
- IDBI Monthly Income Plan (only the debt portion)
IDBI Mutual Funds FAQs
Q1. Do I need to pay any charges for online transaction?
A. No. You do not have to pay any charges for online transaction.
Q2. What sort of transactions can be conducted online?
A. Online financial transactions such as the switch, purchase, the redemption of units, and additional purchase can be carried out by the IDBI Mutual Fund investors. The other things can be done online including viewing the statement of capital gains, account statement, portfolio summary, portfolio details, asset class-wise summary, and transaction status.
Q3. Which banks can be used for the online purchase of IDBI Mutual Funds?
A. Online purchase of IDBI Mutual Funds can be done via the Bank of India, Axis Bank, Bank of Baroda, Canara Bank, Indian Overseas Bank, IDBI Bank, IndusInd Bank and other national banks.
Q4. Can I use my debit card to make transactions online?
A. Yes, debit cards can be used for online transactions for IDBI Mutual Funds. Nevertheless, only VISA-enabled cards can be used.
Q5. How can I get my redemption proceeds?
A. Once the redemption transaction is processed successfully, these proceeds will be sent to the registered bank account depending on the mode of payment chosen in the portfolio.