Indiabulls MF mobilises Rs 1107 crore

Mumbai: Indiabulls Mutual Fund today said it has garnered Rs 1,107 crore through its maiden liquid fund which was open for subscription for just one day. This is the first instance in this calendar year that any mutual fund has mobilised more than Rs 1,000 crore in a single working day, Indiabulls MF said in a statement here.

The new fund offer (NFO) opened for subscription on Monday (Oct 24), and closed the same day. The scheme will re-open for ongoing purchase and sale from October 28 at Net Asset Value (NAV) based prices. Indiabulls Liquid Fund is benchmarked against `Crisil Liquid Fund Index`. Indiabulls MF is sponsored by Indiabulls Financial Services Ltd (IFSL), which has a net worth of Rs 4,661 crore with an asset book of over Rs 27,000 crore.