DHFL Pramerica Overnight Fund Floats On

NFO period is from 12 August to 26 August 2019

Aug 07, 2019 07:08 IST capital market

DHFL Pramerica Mutual Fund has launched a new fund named as DHFL Pramerica Overnight Fund, an open ended debt scheme investing in overnight securities. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 August 2019 to 26 August 2019.

The objective of the Scheme is to provide reasonable returns commensurate with low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.

The scheme offers growth and dividend options under both regular plan and direct plan. Dividend option has dividend payout facility, dividend re-investment facility and dividend frequency-payout: Weekly, reinvestment: Daily, Weekly.

The scheme shall invest 0%-100% of assets in Treasury bills, government securities, (Tri Party Repo), Debt (Only PSU, PFI and other quasi government bodies) and money market instruments* with maturity on or before the next business day with low risk profile.

Minimum initial purchase amount is Rs 100 and in multiples of Re 1 thereafter.

Minimum additional purchase amount is Rs 100 and in multiples of Re 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry load: Not applicable

Exit load: Nil

Benchmark Index for the scheme is NIFTY 1D Rate Index.

The fund managers of the scheme are Kumaresh Ramakrishnan and Kunal Jain.

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