IDBI Asset Management Limited handles substantial assets worth 3,935 crores and was established on January 25, 2010. It’s existing mutual fund scheme offerings consist of 35 debts, 40 equity, and eight hybrid funds.
IDBI Mutual Fund is an ancillary of the IDBI Bank and was incorporated under the Companies Act, of 1956. IDBI maintains a total asset worth in the range of Rs. 8949 cr distributed across several debts, equity, and LF (liquid funds) schemes.
IDBI Mutual Fund is ancillary to IDBI Bank, a financial service provider that caters to clients looking for short-term and long-term investment opportunities.
The IDBI Mutual Fund of IDBI, as envisioned by IDBI MF Trustee Company Ltd., is controlled by IDBI Asset Management Limited, with the fund house being funded by IDBI Bank. It employs more than 250 individuals across 15 branches spread throughout the country.
The aim of IDBI Mutual Fund aims to enhance economic inclusion by encouraging investors to make sound investment decisions. It seeks to accomplish this through mutual funds, thus offering it the chance to witness capital markets’ success.
It contains a large number of funds with excellent CRISIL ratings. As a sponsor, IDBI isn’t just one of India’s biggest banks but also a significant contributor to its financial and industrial development.
It has been a fixture in the financial sphere for more than 40 years. IDBI first started its operations as a development banking institution and a while later became a commercial bank.
About IDBI mutual fund
The incorporation of the Industrial Development Bank of India (IDBI) into the Government Company Act took place on 1 July 1964. The bank’s main objective was to offer economic aid to the nation’s weak industrial scene at the time.
In its early years, IDBI was an ancillary of the Reserve Bank of India (RBI). However, it was eventually moved to the Government of India in 1976. The Government of India had to relinquish control of the bank after increasing pressure from economic circles. Currently, LIC owns a 51% majority stake in the bank.
Thanks to the state’s continued support over the years, IDBI has one of the biggest networks of ATM(s) and bank branches across the country. The bank has 1891 branches spread across all the nation’s states and an international branch in Dubai.
Hailed as a banking institution like no other, IDBI has aided the nation’s financial sector’s development, particularly in the pre-liberal era.
It had a momentous role to play and caused a direct impact on the creation of several federal financial firms, including the Securities and Exchange Board of India (SEBI), National Securities Depository Limited (NSDL), Indian National Stock Exchange (NSEI), and Stock Holding Corporation of India Limited (SHCIL).
IDBI Mutual Fund
| Name of the AMC | IDBI Asset Management Company Ltd. |
| Incorporation Date | January-25-2010 |
| Sponsors | IDBI Bank Ltd. |
| Trustee | IDBI MF Trustee Company Ltd. |
| Trustees’ Name | Mr. Rakesh Sharma – Chairman Mr. Jorty M. Chacko – Director Ms. Geeta P. Shetti – Independent Director Mr. A. V. Rammurty – Independent Director Mr. Arvind Kumar Jain – Independent Director |
| MD/CEO | Mr Dilip Kumar Mandal |
| CIO | Mr V. Balasubramanian |
| Compliance Officer | Mr. Chandra Bhushan |
| Investor Relations Officer | Mr. S.V. Durgaprasad |
| Registrar and Transfer agent | Kevin Technologies Private Limited (Formerly known as Karvy Fintech Private Ltd) Unit: IDBI Asset Management Company Ltd. Karvy Selenium Tower B, Plot No 31 & 32 Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032 Contact Person: Mr. S. V. Durga Prasad Telephone: 022-6644 2800 Email: contactus@idbimutual.co.inth |
| Toll-free Number | 1800-419-4324 |
| Email Address | contactus@idbimutual.co.in |
| Registered Address | IDBI Asset Management Company Ltd. 5th floor, Mafatlal Centre, Nariman Point Mumbai – 400021 |
10 top-performing IDBI mutual fund schemes
IDBI has mutual funds in almost all categories permitted by the Securities and Exchange Board of India or SEBI. Here is a list of the ten best-performing IDBI mutual fund schemes in India.
1. IDBI Liquid fund
IDBI Liquid Fund is an open-ended liquid scheme with a NAV of 2200.2867. Its objective is to offer investors an alternative to bank accounts/deposits.
It was launched on 09th July 2010 and has delivered average annual returns of 7.32% since its inception. The fund considers CRISIL Liquid TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 and in multiples of INR 1 thereafter for a minimum period of 6 months |
| Exit Load | 0.0070% if redeemed within 1 day since the date of allotment with a 0.0005% depreciation for each following day until day 6; nil for redemption from day 7 onwards |
| Return Since Inception | 7.32% |
| Assets | INR 1,114 Cr (as of 31st March 2021) |
| Expense Ratio | 0.17% |
2. IDBI Nifty Index Fund
IDBI Nifty Index Fund is an open-ended scheme replicating/tracking the Nifty Next 50 Index and has a NAV of 26.1412.
Its objective is to invest only in every stock that comprises the Nifty Next 50 Index in the same weights as these stocks to recreate the performance of the TRI of the Nifty Next 50 Index.
It was launched on 25th June 2010 and has delivered average annual returns of 9.27% since its inception. The fund considers NIFTY 50 TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | Nil |
| Return Since Inception | 9.28% |
| Assets | INR 264 Cr (as of 31st March 2021) |
| Expense Ratio | 1.03% |
3. IDBI Flexi Cap Fund
IDBI Flexi Cap Fund is an open-ended scheme equity scheme investing across small-cap, mid-cap, and large-cap stocks and has a NAV of 26.48.
Its objective is to offer investors the option for capital appreciation in the long term through investment in a diversified portfolio of equity and equity-related instruments. It was launched on 28th March 2014 and has delivered average annual returns of 14.77% since its inception.
The fund considers S&P BSE 500 Index-TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 14.77% |
| Assets | INR 315 Cr (as of 31st March 2021) |
| Expense Ratio | 1.03% |
4. IDBI Equity Savings Fund
IDBI Diversified Equity Fund is an open-ended equity scheme investing in arbitrage, equity, and debt and has a NAV of 19.2113. Its objective is regular income generation by investing in the money market and debt instruments through the usage of arbitrage and other derivative strategies.
It was launched on 07th March 2011 and has delivered average annual returns of 6.66% since its inception. The fund’s benchmark is divided as 40% of the CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index + 30% of the Nifty 50 Index- TRI.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 6.66% |
| Assets | INR 11 Cr (as of 31st March 2021) |
| Expense Ratio | 2.13% |
5. IDBI Small Cap Fund
IDBI Small Cap Fund is an open-ended fund equity scheme predominantly investing in small-cap stocks and has a NAV of 12.53.
Its objective is to offer investors opportunities to invest money for the long-term (3-4 years at least) who are looking for high returns.
It was launched on 21st June 2017 and has delivered average annual returns of 6.06% since its inception. The fund considers NIFTY Smallcap 250 TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 6.06% |
| Assets | INR 11 Cr (as of 31st March 2021) |
| Expense Ratio | 2.50% |
6. IDBI Ultra Short-Term Fund
IDBI Ultra Short Term Fund is an open-ended, ultra-short-term debt scheme and has a NAV of 2171.2407. Its objective is to offer investors regular income for their investments by investing in the money market and debt instruments.
It was launched on 03rd September 2010 and has delivered average annual returns of 7.56% since its inception. The fund considers CRISIL Ultra ST Debt TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | Nil |
| Return Since Inception | 7.56% |
| Assets | INR 335 Cr (as of 31st March 2021) |
| Expense Ratio | 0.60% |
7. IDBI Banking & Financial Services Fund
IDBI Banking & Financial Services Fund is an open-ended equity scheme that invests in the financial and banking services sector.
It has a NAV of 11.47 and its objective is to offer investors maximum growth opportunities and attain long-term capital appreciation by investing in equity and equity-related instruments of organizations engaged in the banking and financial services sector.
It was launched on 04th June 2018 and has delivered average annual returns of 4.89% since its inception. The fund considers NIFTY Financial Services TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 4.89% |
| Assets | INR 335 Cr (as of 31st March 2021) |
| Expense Ratio | 2.49% |
8. IDBI India Top 100 Fund
IDBI India Top 100 Fund is an open-ended equity scheme that invests in large-cap stocks and has a NAV of 30.95.
Its objective is to offer investors opportunities for capital appreciation in the long term through investment in equity and equity-related instruments.
It was launched on 15th May 2012 and has delivered average annual returns of 13.48% since its inception. The fund considers NIFTY 100 TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 13.48% |
| Assets | INR 427 Cr (as of 31st March 2021) |
| Expense Ratio | 2.53% |
9. IDBI Focused 30 Equity Fund
IDBI Focused 30 Equity Fund is an open-ended equity scheme that invests in a maximum of 30 predominantly large-cap stocks and has a NAV of 12.11.
Its objective is to offer capital appreciation in the long term through investment in a concentrated portfolio of large-cap-focused equity and equity-related instruments.
It was launched on 17th May 2017 and has delivered average annual returns of 5.75% since its inception. The fund considers NIFTY 100 TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 5.75% |
| Assets | INR 136 Cr (as on 31st March 2021) |
| Expense Ratio | 2.47% |
10. IDBI Midcap Fund
IDBI Midcap Fund is open-ended equity that invests in predominantly mid-cap stocks and has a NAV of 14. Its objective is to offer investors opportunities for capital appreciation in the long term through investment in equity and equity-related instruments of mid-cap companies.
It was launched on 25th January 2017 and has delivered average annual returns of 8.27% since its inception. The fund considers NIFTY Midcap 100 TRI as its benchmark.
Key information
| Minimum Investment | INR 5000 and in multiples of INR 1 thereafter |
| Minimum Additional Investment | INR 1000 and in multiples of INR 1 thereafter |
| Minimum SIP Investment | INR 500/month (12 months) INR 1000/month (6 months) INR 1500/quarter (4 quarters) |
| Minimum Withdrawal | INR 1000 |
| Exit Load | 1% for redemption within 365 days |
| Return Since Inception | 8.27% |
| Assets | INR 188 Cr (as of 31st March 2021) |
| Expense Ratio | 2.59% |
How can you invest in IDBI Mutual Fund via EduFund?
Investing in IDBI mutual funds via Edufund is a fairly straightforward procedure.
Step 1 – Download and install the EduFund app from Apple’s App Store or Google’s Play Store and set up an account.
Step 2 – Choose a Scheme. Peruse the huge spectrum of IDBI mutual fund instruments and select the best scheme to meet your financial objectives. The app’s built-in recommendation algorithm determines and proposes the scheme that will best meet your financial objectives.
Step 3 – Observe and Follow Your Transaction(s). The amount of money and assets you have put in will be displayed in your EduFund online account within 96 hours. You can also monitor and follow the IDBI mutual fund NAV, existing account balance, and other details through the app. Additionally, you may also buy, reclaim, or swap IDBI mutual fund units.
Step 4 – Talk to a wealth advisor. You can reach out to a mutual fund expert to share your financial objectives and goals to gain tailored advice.
EduFund uses top-class authentication and encryption technologies to ensure bank-like secured transactions and safeguard your investments.
Top 4 best-performing Fund managers at IDBI Mutual Fund
IDBI MF has a dedicated squad of fund managers who possess a strong mix of knowledge and experience in their chosen fields to uncover opportunities and coordinate portfolio management to maximize fund returns.
1. Raju Sharma
Mr. Sharma is currently successfully handling the fixed income section of the financial institution, such as the IDBI Hybrid Equity Fund (Debt Portion) and IDBI Liquid Fund.
He possesses over 25 years of strong industry experience in treasury, financial services, and debt capital markets. Prior to working for IDBI fund house, he had been associated with prestigious banking institutions such as Indiabulls MF, Tata Mutual Fund, and JM Morgan Stanley.
2. Uma Venkatraman
With more than 15 years of industry experience in the sphere of financial services, Mrs. Venkatraman specializes in the equity segment.
Before becoming selected as the fund manager, she directed IDBI’s research function. Prior to joining IDBI Mutual Fund, she was associated with numerous reputable financial institutions such as ASK Raymond James, B&K Securities, ASK Raymond James, Morgan Keegan, and UTI Mutual Fund.
3. Bhupesh Kalyani
Mr. Kalyani possesses a wealth of work experience amounting to around 16 years, with a major emphasis on managing and handling fixed-income funds.
He is responsible for managing the IDBI Short-Term Bond Fund, IDBI Ultra Short-Term Fund, & IDBI Credit Risk Fund. Prior to his appointment as the fund manager, he was associated with TATA MF, LIC MF, and Star Union Dai-ichi Life Insurance Co. Ltd.
4. Ashish Mishra
Mr. Mishra has a rich work experience of 13 years in the industry. He presently manages funds such as IDBI Focused 30 Equity Fund, IDBI Diversified Equity Fund, IDBI Gold Exchange Traded Fund, IDBI Midcap Fund, and IDBI Gold Fund.
Prior to entering IDBI MF as the Fund Manager, he was associated with reputable institutions such as Union Bank of India (Treasury) and ING Investment Management India Pvt. Ltd
5. Ms. Ayushi Sethia
Ms. Ayushi Sethia is the commissioned Co-Fund Manager for three of IDBI’s mutual fund schemes. She presently supervises the IDBI Long Term Value Fund, IDBI Equity Advantage Fund, IDBI Banking, and Financial Services Fund. In total, she is responsible for handling Rs. 923 crore assets.
Ms. Sethia is a student at the University of Jadavpur, having completed her Bachelor of Science degree with a specialization in Mathematics. She graduated from ISB with an MBA in Finance and Strategy.
IDBI appointed her in May 2018. Prior to joining IDBI Asset Management Ltd., she used to hold the position of a junior research analyst at Quant One Technologies Pvt. Ltd.
Why should you invest in IDBI Mutual Fund?
IDBI Asset Management Limited maintains Rs. 3935 crores worth of assets. IDBI MF has been identified as one of the top-performing financial products and investment schemes presently accessible on the Indian financial market.
Its primary products, such as debt, equity, gold, and hybrid funds, provide yearly returns as high as 13.2% against the invested amount. Its present mutual fund scheme offerings consist of 40 equity, 35 debt, and eight hybrid funds.
Irrespective of whatever your investment objective might be, you can acquire an IDBI mutual fund scheme to meet those financial goals. You can also avail the seasoned and accomplished fund managers at the IDBI mutual fund to make a stock market or secondary market investment easier for you.
Select EduFund for investing in IDBI Mutual fund
EduFund makes it easy and convenient to put money in the IDBI Mutual Fund. EduFund’s knowledgeable advisors will provide you with tailored solutions to all your economic objectives. You get the following benefits with EduFund:
- Tailored research-based financial plan: EduFund’s advanced fund tracker algorithm analyses more than 1 lakh data points and 400 financial contexts to identify the best mutual fund scheme for you.
- Customer-friendly consultants help you create a financial plan: EduFund’s consultants are equipped to deal with all types of consumer queries. They give you as long as you need to fix all your problems to create a solid financial plan.
- Invest less, earn more: Apart from providing services pertinent to the best Indian mutual funds, EduFund also provides you with the facility to put money in US Dollar ETF(s) and international mutual funds.
- Utilize free tools: EduFund enables providing several free tools for its clients, such as the SIP calculator, college savings calculator, and more.
- Zero technical expertise required: Investing in a mutual fund becomes easy for you with EduFund. You don’t need to possess financial know-how to identify the best mutual fund because EduFund does it for you.
- Value-added benefits: You stand to gain numerous value-added perks, such as free consultations, zero commission, and no hidden charges.
- Secure transactions: EduFund is RIA-registered and uses top-class 128-SSL security to enable safe transactions.
FAQs
What is the best IDBI mutual fund?
Top-rated IDBI mutual funds:
IDBI Liquid fund
IDBI Nifty Index Fund
IDBI Flexi Cap Fund
IDBI Equity Savings Fund
IDBI Small Cap Fund
Are IDBI mutual funds good?
IDBI Mutual Fund is ancillary to IDBI Bank, a financial service provider that caters to clients looking for short-term and long-term investment opportunities.
It has been a fixture in the financial sphere for more than 40 years. IDBI first started its operations as a development banking institution, and a while later became a commercial bank.
Its primary products, such as debt, equity, gold, and hybrid funds, provide yearly returns as high as 13.2% against the invested amount. Its present mutual fund scheme offerings consist of 40 equity, 35 debt, and eight hybrid funds. Please talk to a financial expert before considering investing in this fund.
Can I withdraw the mutual fund anytime?
You can withdraw your mutual fund investment anytime unless it’s Equity Linked Saving Scheme (ELSS) which has a lock-in period of 3 years.
But investors should keep in mind if there is any exit load applicable on investments which is the charge deducted by AMCs to discourage investors from withdrawing the money prematurely.
Can I sell mutual funds anytime?
You can sell your mutual fund holdings anytime, but early redemption charges may apply based on the mutual fund you own. A few mutual fund companies have an exit load to restrict investors from selling their holdings before the minimum holding period.
