Asset management company IDBI Mutual Fund is mulling over the introduction of more equity

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products in the coming months, a senior official said today.

"Presently, the equity markets are doing well... We want to introduce more equity products...," IDBI Asset Management Company Executive Director B Sarath Sarma told reporters here.

He said the company wanted to give more options to customers since the equity market was doing well and that was the reason for their proposal to introduce more products in the equity market. "We want to give more choice to our customers and distributors...," he said.

On the company's financials, he said it had Rs 6,100 crore of assets as of December 31, 2011, compared to Rs 2,000 crore in the previous year.

Sarma and senior officials were here to launch their new product, IDBI Dynamic Bond Fund, which opened for subscription on Monday (January 31).

It will invest in a portfolio comprising debt instruments such as government securities, public sector undertakings, corporate bonds and money market instruments.

"This is a retail product. We look forward to better our earlier NFOs (New Fund Offer) and this becomes the flagship brand of IDBI," he said.

The scheme closes on February 14 and will reopen for sale and repurchase on February 23.