IDBI Mutual Fund is a subsidiary of IDBI Bank, a financial service provider catering to customers looking for short and long term investment options. It manages assets worth of Rs. 8949.06 Crore via debt liquid funds, ELSS, domestic and overseas FoFs, and Multi Cap Funds.
IDBI MF has been recognised as one of the best performing investment schemes currently available in the Indian financial market. Its primary products, Equity, Debt, Gold, and Hybrid Funds, offer an annual return as high as 13.2% against the invested amount.
IDBI MF employs over 200 people across 15 branches across the country. IDBI Asset Management Limited was incorporated in accordance with the Companies Act, 1956 and IDBI Mutual Fund, a subsidiary, was set up with compliance of the Indian Trusts Act of 1882.
About the Sponsor
Industrial Development Bank of India (IDBI) was incorporated under the Government Company Act on 1st July 1964. The primary aim of the bank was to provide financial support to the feeble industrial landscape of the country at the time. In its initial days, IDBI was a subsidiary of the Reserve Bank of India but they later transferred it to the Government of India in 1976. The Government itself had to forego control of the bank after mounting pressure from financial circles. Currently, LIC holds a 51% majority stake at the bank.
IDBI has one of the largest networks of branches and ATMs in the country owing to government backing through the years. It now has 1,891 branches spread across all states of the country as well as an overseas branch in Dubai.
IDBI is unlike any other banking institution in the country as it helped shape the financial sector, especially during the pre-liberalisation era. It had a direct and pivotal role to play in the formation of multiple national financial institutions including National Stock Exchange of India (NSEI), Securities and Exchange Board of India (SEBI), Stock Holding Corporation of India Limited (SHCIL), and National Securities Depository Limited (NSDL).
Key information
| Mutual fund | IDBI Mutual Fund |
|---|---|
| Founded | March 29, 2010 |
| Incorporated | Jan 25, 2010 |
| Sponsors | IDBI Bank Ltd. |
| Trustee | IDBI MF Trustee Company Ltd |
| MD and CEO | Mr. Dilip Kuman Mandal |
| CIO | Mr. V. Balasubramanian |
| Investor Service Officer | Mr. Durgaprasad S.V. |
| Compliance Officer | Mr. Chandra Bhushan |
— Registered with SEBI, AMFI & BSE
— Paperless sign up on web & app
— Expert recommendations
— ZERO fees !
How can you invest in Idbi Mutual Funds?
Prospective investors can easily complete the process with the help of online IDBI Mutual Fund application. You only have to follow some simple steps mentioned below.
Step 1. Log-in to your Groww account. If you are a new user, register and create a new account.
Step 2. Upload a copy of an identity proof allocated by the Government of India. Aadhaar, Voter ID, PAN Card, passport, Driving Licence, etc. is accepted as a valid ID proof.
Step 3. Upload a Proof of Address paper, namely, any document with your permanent address mentioned.
Step 4. Choose an investment period according to your preference.
Step 5. Select whether you want to invest in plans of low, mid, or high risk.
Step 6. Choose your preferred investment option as IDBI Mutual Funds.
Step 7. Select “Invest One Time” if you want to invest a large amount, or select “Start SIP” if you want to invest via SIP.
The online investment procedure is hassle-free and easy-to-follow. Once you have completed these steps, your investment will be processed and the IDBI Bank Mutual Fund you have invested in will appear in your Groww account within 3 to 4 business days.
| Fund Name | Category | Risk | 1Y Returns | Rating | Fund Size(in Cr) | |
|---|---|---|---|---|---|---|
| IDBI Short Term Bond Fund | Debt | Moderately Low | 4.3% | 4star | ₹48 | |
| IDBI Liquid Fund | Debt | Low | 7.5% | 4star | ₹2,160 | |
| IDBI Diversified Equity Fund | Equity | Moderately High | -9.8% | 3star | ₹303 | |
| IDBI Equity Advantage Fund | Equity | Moderately High | -10.5% | 3star | ₹537 | |
| IDBI Ultra Short Term Fund | Debt | Moderately Low | 3.1% | 3star | ₹270 | |
| IDBI Nifty Junior Index Fund | Others | Moderately High | -16.1% | 3star | ₹48 | |
| IDBI Dynamic Bond Fund | Debt | Moderate | 8.7% | 2star | ₹37 | |
| IDBI Nifty Index Fund | Others | Moderately High | -5.3% | 2star | ₹216 | |
| IDBI Gold Fund | Others | Moderately High | 29.3% | 2star | ₹32 | |
| IDBI Hybrid Equity Fund | Hybrid | Moderately High | -11.9% | 2star | ₹297 | |
| IDBI Midcap Fund | Equity | Moderately High | -19.0% | 2star | ₹190 | |
| IDBI Equity Savings Fund | Hybrid | Moderate | 0.8% | 1star | ₹19 | |
| IDBI India Top 100 Equity Fund | Equity | Moderately High | -6.1% | 1star | ₹350 | |
| IDBI Gilt Fund | Debt | Moderate | 13.1% | 1star | ₹28 | |
| IDBI Focused 30 Equity Fund | Equity | Moderately High | -11.6% | 1star | ₹223 | |
| View All Top Performing Idbi Mutual Funds |
Top Fund Managers
1. Mr. Dilip Kumar Mandal
A seasoned financial expert with over 30 years of experience behind him, Mr. Dilip Kumar Mandal is a well-recognised name in banking and financial sectors in India. He specialises in mutual funds, asset management, project financing, venture capital financing, risk management and mitigation, corporate banking, etc.
Mr. Mandal is an alumnus of Indian Institute of Technology, Kharagpur, where he completed his Bachelor in Technology in Metallurgical Engineering. He also has a Post Graduate Diploma in Management and International Business from Indian Institute of Foreign Trade.
Mr. Dilip Kumar Mandal has been associated with IDBI Bank for more than 28 years. He started his career as the Regional Head of Corporate Banking of the west zone in 1987. He was promoted to Chief General Manager (Zonal Head) for the eastern zone in April 2014 by the IDBI Bank, and in 2016 was appointed as the Managing Director and Chief Executive Officer of the IDBI Asset Management Ltd.
Mr. Dilip Kumar Mandal currently handles total financial assets of over Rs. 6719 Crores in association with the AMC.
2. Mr. Firdaus Marazban Ragina
Mr. Firdaus Marazban Ragina acts as the current Fund Manager for two schemes, IDBI Nifty Index Fund and IDBI Nifty Junior Index Fund. Mr. Ragina has a B.Com degree and over 20 years of experience in the financial sector.
Mr. Firdaus Marazban Ragina currently handles over Rs. 301 Crore spread over 7 different schemes offered by IDBI new Mutual Fund. He has been appointed for this position in October 2018.
3. Ms. Ayushi Sethia
Ms. Ayushi Sethia has been appointed as the Co-Fund Manager for three schemes of IDBI Mutual Funds. She currently oversees IDBI Banking and Financial Services Fund, IDBI Equity Advantage Fund and IDBI Long Term Value Fund. In total, she handles Rs. 923 Crore in assets.
Ms. Sethia is an alumnus of Jadavpur University, completing her Bachelor of Science in Mathematics. She completed her Masters in Business Administration on Finance and Strategy from the Indian School of Business. Before joining IDBI Asset Management Ltd., she was a Junior Research Analyst in Quant One Technologies Pvt. Ltd. IDBI appointed her in May 2018.
4. Ms. Uma Venkatraman
An Alumni of Boston College Carrol School of Management, Ms. Uma Venkatraman is the acting Fund Manager for the Equity Funds at IDBI Asset Management Ltd. She was appointed in September 2017, and currently oversees IDBI India Top 100 Equity Fund, IDBI Nifty Index Fund, IDBI Nifty Junior Index Fund, IDBI Monthly Income Plan, and IDBI Small Cap Fund.
Ms. Venkatraman completed her Bachelors in Commerce from Ethiraj College for Women, following which she studied at XLRI Jamshedpur. She joined Boston College Carroll School of Management in 2003 to complete MSF in Finance.
Ms. Uma Venkatraman has a total experience of over 15 years. She started her career at UTI AMC in 1999. In 2004, she was appointed as a Research Associate at Adams Harkness, and later in the same designation at Morgan Keegan. In 2006 she joined ASK Raymond James as an Analyst, and in 2008 in B&K Securities in the department of Institutional Equity Sales.
IDBI appointed her as the Head of Research (Equities) in December 2010. She was promoted to Fund Manager of the Equity department in September 2017 and has held the position for the last two years. She currently handles Rs. 2663 Crore across different schemes.
5. Mr. Ashish Mishra
Mr. Ashish Mishra works as the acting Vice President-Fund Manager at IDBI Asset Management Ltd. He is an expert in asset management, risk management and mitigation, project financing, mutual funds, and venture capital financing.
Mr. Mishra completed his Bachelor of Engineering from RGPV and joined S.P. Jain Center of Management to complete his Masters in Business Administration in Finance. He started his career in Infosys, as a SE, in 2004. Later, he joined Merrill Lynch as a consultant in 2006.
His venture into the Indian Banking industry started in 2009 when he joined Union Bank of India as the Manager of Treasury. Then he joined ING Investment as a Senior Manager for Portfolio Management in 2010.
Mr. Ashish Mishra was appointed by the IDBI Asset Management Ltd. in 2014 as the Vice President and Fund Manager managing Equity funds, ETF, and Fund of Funds. He is holding the position for 5 years.
6. Mr. Bhupesh Kalyani
Mr. Bhupesh Kalyani has over 16 years of work experience, with over 12 years in fixed income fund management and dealing. He is a CA, ICWA, and CISA, completing his education from the Institute of Chartered Accountants of India in 2002. He joined Tata Mutual Funds as a Dealer of Fixed Income in 2009 as the beginning of his career.
Mr. Kalyani also worked with Star Union Dai-Ichi Life Insurance Co. Ltd. before joining IDBI AMC. He was appointed as an Investment Manager and worked for four years in the company managing its entire debt and money market portfolio.
Mr. Bhupesh Kalyani was appointed as the Associate Vice President at IDBI Asset Management Ltd. in January 2017. Currently, he is the Fund Manager of the Debt Funds, holding the ranks for two years.
Now let us jump and check about these top 10 mutual fund schemes.
Fund Performance: This fund has consistently beaten its benchmark in Short Duration segment and provided 6.23% annualized returns in the last 3 years. In the last 1 year, it gave 4.26% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 4.26% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Debt mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹48Cr |
| 1Y Returns | 4.3% |
Fund Performance: This fund has consistently beaten its benchmark in Liquid segment and provided 7.15% annualized returns in the last 3 years. In the last 1 year, it gave 7.5% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 7.5% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Debt mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹2,160Cr |
| 1Y Returns | 7.5% |
Fund Performance: This fund has consistently beaten its benchmark in Multi Cap segment and provided 4.76% annualized returns in the last 3 years. In the last 1 year, it gave -9.83% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -9.83% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Equity mutual fund in India.
| Launch Date | 27 Mar 2014 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹303Cr |
| 1Y Returns | -9.8% |
Fund Performance: This fund has consistently beaten its benchmark in ELSS segment and provided 6.68% annualized returns in the last 3 years. In the last 1 year, it gave -10.46% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -10.46% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹500. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Equity mutual fund in India.
| Launch Date | 09 Sep 2013 |
|---|---|
| Min Investment Amt | ₹500 |
| AUM | ₹537Cr |
| 1Y Returns | -10.5% |
Fund Performance: This fund has consistently beaten its benchmark in Ultra Short Duration segment and provided 5.79% annualized returns in the last 3 years. In the last 1 year, it gave 3.1% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 3.1% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Debt mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹270Cr |
| 1Y Returns | 3.1% |
Fund Performance: This fund has consistently beaten its benchmark in Index segment and provided 4.63% annualized returns in the last 3 years. In the last 1 year, it gave -16.14% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -16.14% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Others mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹48Cr |
| 1Y Returns | -16.1% |
Fund Performance: This fund has consistently beaten its benchmark in Dynamic segment and provided 5.36% annualized returns in the last 3 years. In the last 1 year, it gave 8.67% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 8.67% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Debt mutual fund in India.
| Launch Date | 02 Jan 2013 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹37Cr |
| 1Y Returns | 8.7% |
Fund Performance: This fund has consistently beaten its benchmark in Index segment and provided 8.63% annualized returns in the last 3 years. In the last 1 year, it gave -5.35% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -5.35% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Others mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹216Cr |
| 1Y Returns | -5.3% |
Fund Performance: This fund has consistently beaten its benchmark in FoF Domestic segment and provided 4.58% annualized returns in the last 3 years. In the last 1 year, it gave 29.32% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 29.32% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Others mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹32Cr |
| 1Y Returns | 29.3% |
Fund Performance: This fund has consistently beaten its benchmark in Aggressive segment and provided -100% annualized returns in the last 3 years. In the last 1 year, it gave -11.94% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -11.94% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Hybrid mutual fund in India.
| Launch Date | 17 Oct 2016 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹297Cr |
| 1Y Returns | -11.9% |
Fund Performance: This fund has consistently beaten its benchmark in Mid Cap segment and provided -100% annualized returns in the last 3 years. In the last 1 year, it gave -19% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -19% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Equity mutual fund in India.
| Launch Date | 24 Jan 2017 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹190Cr |
| 1Y Returns | -19.0% |
Fund Performance: This fund has consistently beaten its benchmark in Equity Savings segment and provided 3.94% annualized returns in the last 3 years. In the last 1 year, it gave 0.77% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 0.77% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Hybrid mutual fund in India.
| Launch Date | 03 Jan 2013 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹19Cr |
| 1Y Returns | 0.8% |
Fund Performance: This fund has consistently beaten its benchmark in Large Cap segment and provided 5.29% annualized returns in the last 3 years. In the last 1 year, it gave -6.08% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -6.08% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Equity mutual fund in India.
| Launch Date | 01 Jan 2013 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹350Cr |
| 1Y Returns | -6.1% |
Fund Performance: This fund has consistently beaten its benchmark in Gilt segment and provided 5.88% annualized returns in the last 3 years. In the last 1 year, it gave 13.13% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 13.13% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹500. This is one of the best Debt mutual fund in India.
| Launch Date | 31 Dec 2012 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹28Cr |
| 1Y Returns | 13.1% |
Fund Performance: This fund has consistently beaten its benchmark in Focused segment and provided -100% annualized returns in the last 3 years. In the last 1 year, it gave -11.57% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -11.57% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹1,000. This is one of the best Equity mutual fund in India.
| Launch Date | 26 Nov 2017 |
|---|---|
| Min Investment Amt | ₹5,000 |
| AUM | ₹223Cr |
| 1Y Returns | -11.6% |
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