Religare Mutual Fund launches 3 months Fund


Bangalore: A new fund called the Religare Fixed Maturity Plan - Series IV - Plan A (3 Months) has been launched by Religare Mutual Fund. The new fund has been released under Religare Fixed Maturity Plan - Series IV - Plan A to F, a close ended debt scheme. The scheme's duration is spread over three months, starting from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is 10 per unit. The opening and closing subscription date of the new issue is October 29, 2010. Growth and dividend payout option is offered in the scheme. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. Up to 100 percent of assets are allocated in debt instruments including money market instruments with low risk profile. However, investment in foreign debt securities will not exceed 50 percent of the net assets of the scheme. Also derivatives for purposes may be used by the scheme from time to time as may be permitted. The maximum gross derivative position will be restricted to 50 percent of the net assets of the scheme.