Religare Invesco Mutual Fund launches New Close Ended Scheme
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29 Jul 2015
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| Religare Invesco Mutual Fund has launched a new close ended debt scheme “Religare Invesco Fixed Maturity Plan - Series 26 - Plan D” with maturity period of 1098 days from and including the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 28 and will close on July 29. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Nitish Sikand will be the fund manager of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the Scheme. Hence, the scheme will allocate 70 to 100 per cent of asset in Debt Instruments and 0 to 30 per cent of asset in Money Market Instruments. |
Source: Dion Global Type: Mutual Fund Review
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