Indiabulls Mutual Fund is seeking to launch a new open-ended equity scheme, Moneylife Personal Finance reports. The Indiabulls Blue Fund, which targets blue-chip, large-cap companies, will invest about 65% of assets in equity and equity-related securities.
Up to 35% of assets will be invested in debt and money market securities/instruments with low- to medium-risk profile. The scheme, which will be managed by Aviral Gupta, will be benchmarked against the S&P CNX Nifty index.
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