IDFC AMC has announced the launch of its Credit Opportunities Fund, an open-ended income fund. The new fund offer opens on Tuesday and closes on February 27. It will reopen for continuous sale and repurchase from March 6.

The minimum application amount for this fund is ₹5,000. It offers direct and regular plans, both with growth and dividend options. An exit load of 1 per cent is applicable if redeemed/switched out within 365 days from the date of allotment. The fund is benchmarked 80 per cent to Crisil AA Medium Term Bond Index and 20 per cent to Crisil AAA Short Term Bond Index.

In a press note, the AMC said that , “the fund has put in place a strong and rigorous process to evaluate credit risk and monitor the same on a continuous basis. The fund will also emphasise on collaterals/ covenants where it believes it is required...”

As of January 2017, IDFC AMC had assets under management of approximately ₹61,239 crore.