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. 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.