Business Desk :
IDLC Asset Management Limited (IDLC AML) launched the country’s first ever Debt Mutual Fund in June, 2021.
The first of its kind – “IDLC Income Fund”- is an open-end, debt mutual fund that is mandated to invest in fixed income securities such as government securities/ government-backed securities, bonds, debentures, money market instruments etc.
This new category of investment vehicle offers maximum tax benefit like the National Savings Certificate (NSC or popularly known as Sanchayapatra) while maintains the optimum balance of yield, safety and liquidity.
After six months of launch of IDLC Income Fund, the trustee has announced interim dividend of 3% for “IDLC Income Fund” on 6 January for the period ended on December 31, 2021.
In light of this, Managing Director of IDLC Asset Management Limited Rajib Kumar Dey said, “Investors who look for investment avenues which provide maximum tax rebate for efficient tax management and regular, stable income without undertaking high risk and thus enabling investors to grow their wealth steadily, IDLC income fund ushers new addition to their limited investment universe where Sanchayapatra has been the only option.” Since investment in mutual fund is an eligible investment under Income Tax Ordinance, 1984, it can unquestionably save 10% -15% tax by delivering maximum tax rebate.
This way, it solves critical problems, specially, for people who have already exhausted their limit for National Savings Certificate (Sanchayapatra) and investment in capital market seems as the only way for achieving maximum tax rebate that comes with risk of capital erosion.
IDLC Income Fund will be an eye-opener for the investors that the composition of the portfolio – if maintained with the right investment philosophy – can yield regular, stable income in the form of dividend.
