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Fixed to Income

IDFC Mutual Fund is a specialised debt player, but also has some equity funds that are doing really well…


IDFC Mutual Fund house has had a colourful past. In 2000, this AMC was launched as ANZ Grindlays Mutual Fund, which was renamed Standard Chartered Mutual Fund after Standard Chartered Bank took over Grindlays Bank. In 2008, Standard Chartered realigned its business to exit asset management completely and the AMC was bought by the Infrastructure Development Finance Company (IDFC). The fund house had emerged into a specialised debt fund player till 2005 before it launched its first equity fund, IDFC Classic equity. The fund house has since then expanded its offerings into equity funds, income funds, short-term funds and ultra short-term to complete its range of products.

It has had some unique funds in the form of a fund of funds which invests only in debt funds. Another first was the introduction of funds which sought to provide capital protection and stable returns. The fund house was also one of the first AMCs to offer same day redemption for cash funds and next day redemption for income funds. The AMC relies heavily on its star equity fund manager, who has adopted some new techniques that disciplines fund management, but also poses the risk of failing at the most awkward of times. The customer-centric approach, especially with its service has the potential to make this AMC an investor favourite.