New IDBI Mutual Fund IDBI FMP 395 Days Series I (June 2011) - C and IDBI FMP 367 Days Series I (June 2011) - E Stock Market Today Shares, gold , mortgage rates

New IDBI Mutual Fund IDBI FMP 395 Days Series I (June 2011) - C and IDBI FMP 367 Days Series I (June 2011) - E : IDBI Mutual Fund has launched four new funds named as IDBI FMP 395 Days Series I (June 2011) - C and IDBI FMP 367 Days Series I (June 2011) - E, close ended income schemes. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue opening and closure dates are as follows.

Name of Plan	Duration	NFO Opening Date	NFO Closing Date
IDBI FMP 395 Days Series I (June 2011) - C	395 Days	6 June 2011	16 June 2011
IDBI FMP 367 Days Series I (June 2011) - E	367 Days	6 June 2011	9 June 2011

The investment objective for each plan will be to generate regular income through investments in Debt and Money Market Instruments. The schemes offer dividend option (payout) and growth option.

The schemes will allocate 100% of assets in debt (including government securities, floating rate debt instruments and securitized debt) and money market instruments with low to medium risk profile.

Investment in Derivatives will be up to 50% of the net assets of the scheme. Investment in derivatives shall be for hedging, portfolio balancing and such other purposes as maybe permitted from time to time. The gross investment in securities under the scheme, which includes money market instruments, debt instruments including floating rate debt instruments and securitized debt, and gross exposure to derivatives will not exceed 100% of the net assets of the schemes.

The schemes does not propose to invest in foreign securities. The scheme shall not deploy more than 20% of its net asset in securities lending and not more than 5% in securities lending to any single counterparty.

The minimum application amount is Rs. 5000 and in multiples of Rs. 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs. 1 crore under each scheme during the NFO period.

Entry and exit load charge will be nil. Units of each plan will be listed on the National Stock Exchange (NSE) in order to provide liquidity.

Benchmark Index will be CRISIL Short Term Bond Fund Index.
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