IDLC launches ‘Easy Invest’ product

It is a discretionary portfolio management product, where IDLC Investments will work as fund manager. The fund will be invested in selected blue chip stocks with an aim to minimise market risk and generate reasonable return. Mirza Azizul Islam, a former finance advisor to the caretaker government, inaugurated the new product at a city hotel. Describing about the product, CEO and Managing Director of IDLC Finance Limited Arif Khan said the newly launched product is designed to attract small savers and bring back people to the market who lost all their hopes since the market crashed. “Be emphasised that this new form of portfolio management will help the investors having a little or no knowledge about the stock market or those who do know have much time to follow the market. This is completely a new concept in our country, even though it is highly popular in India -- commonly known as SIP (systematic investment plan).” Md Moniruzzaman, managing director of IDLC Investments, said investing in blue chip shares pays significantly higher return than investing in FDRs in the long term. He said currently, the inflation rate and FDR rate is almost the same. Thus, the clients can hardly generate any ‘real return’ from FDRs, he added. “After the 2010-11 stock market crash, some blue chip shares witnessed a growth of around 400%. Thus, this product is particularly suitable in this low interest rate regime.” Operationally, no physical cheques will be handled. Fund pulling will be done electronically.