The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The scheme will allocate its entire corpus in debt and money market instruments with low to medium risk profile.
85% to 90% of net assets would be invested in AAA rated CPs and upto 5% in AAA rated CDs.
The scheme offers growth and dividend payout option.
Exit load charge will be nil for the scheme. The units of the scheme will be listed on BSE on allotment.
The scheme's performance will be benchmarked against Crisil Short Term Bond Index.
The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
The scheme will be managed by Abhishek Bisen and Mayank Prakash.
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India Infoline News Service / 11:17, Apr 24, 2015
The ice-cream market in India is estimated at Rs 3,500 crore and Gujarat is the largest market.