IDBI Liquid Fund awarded 5 star ranking by ICRA
IDBI Liquid Fund has received 5 star ranking at the 9th Annual ICRA Mutual Fund Awards 2012
- (1888PressRelease) February 18, 2012 - The award was received by Shri R M Malla, Chairman & Managing Director, IDBI Bank and Chairman IDBI Asset Management Ltd.
IDBI Liquid Fund has been ranked 5 star indicating performance among the top 4.6% category of 'Open Ended Liquid' for one year period ending December 31, 2011. As per the ranking criteria of ICRA, the rank is an outcome of an objective and comparative analysis against various parameters, including risk adjusted return, fund size, sector concentration, credit indicator and average maturity.
IDBI Liquid Fund is an open-ended liquid scheme. The investment objective of the scheme is to provide investors with high level of liquidity along with regular income for their investment. The Scheme endeavors to achieve this objective through an allocation of the investment corpus in a low risk portfolio of money market and debt instruments.
Speaking on the occasion, Mr. Debasish Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said "We are happy that IDBI Liquid Fund has been awarded 5 star ranking by ICRA Mutual Fund Awards 2012. This brings into focus the superior investment strategy consistently followed by our Fund Management team. The award is a recognition of the reliability of our fund. This is expected to lead to higher acceptability in a wider investor community.
About ICRA
ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional Investment Information and Credit Rating Agency. The international Credit Rating Agency Moody's Investors Service is ICRA's largest shareholder. Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund's mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets. www.idbimutual.co.in
Disclaimer:
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully before investing.
Disclaimer from ICRA / ICRA Online Limited:
IDBI Liquid Fund has been ranked as a Five Star Fund in the category of 'Open Ended Liquid' schemes for its 1 year performance till December 31, 2011.
The rank is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, sector concentration, credit indicator and average maturity. The ranking methodology did not take into account loads imposed by the Fund. There were 68 schemes considered in 'Open Ended Liquid' category for the ranking exercise. The rank is neither a certificate of statutory compliance nor any guarantee on the future performance of IDBI Liquid Fund.
Ranking Source & Publisher: ICRA Online Limited
As per the information available in the website of ICRA Online the ranking is based on the schemes included in the Liquid fund category (growth option) by ICRA online for the one year period starting from January 1, 2011 to December 31, 2011. 28 mutual funds are included in this category. The expense ratio charged to the scheme had been disclosed in the website of the mutual fund and the changes in the expense ratio would have impacted the yield of the scheme.
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