Bangalore: Morgan Stanley Mutual Fund launched a new fund 'Morgan Stanley Liquid Fund'. It is an open ended liquid scheme. The new issue will be open for subscription from 6th September and close on 7th September 2011, at an offer price of 1000 per unit. The investment objective of the scheme is to provide returns, commensurate with low risk and high liquidity, through a portfolio of money market and short-term debt securities with residual maturity of up to 91 days. No exit load will be charged under the scheme. The performance of the scheme will be benchmarked against CRISIL Liquid Fund Index and will be managed by Mr. Ritesh Jain