IIFL Mutual Fund launches IIFL Short Term Income Fund

NFO Opens on August 30, 2013; Closes on September 11, 2013

August 29, 2013 3:42 IST | India Infoline News Service
IIFL Mutual Fund announces its new offering of an open-ended Income Scheme—IIFL  Short Term Income Fund (‘Scheme’), with an objective to seek to generate income and capital appreciation through investment in debt instruments and money market instruments and to achieve stable returns over shorter-term investment horizons.
The asset allocation will be in Debt Instruments and/or Money Market Instruments to the extent of 80%- 100% with residual maturity less than 3 years and 0%-20% in Debt instruments with residual maturity less than 5 years. The scheme would invest in securities with average maturity up to 3 years.

Gopinath Natarajan, CEO, IIFL AMC, said, “Recent RBI measures to stabilize currency has led to short term interest rates spike to near peak levels in last five years along with inversion of yield curve. In this background, we are pleased to offer an investment opportunity to investors in the form of IIFL Short Term Income Fund. The  Scheme will seek to achieve stable returns with focus on higher accrual income at the short end of the yield curve.”

There are three options offered under this scheme – Growth, Dividend and Bonus —and a special facility of Systematic Investment Plan (SIP).

There is no entry load, while an exit load of 0.50% will be charged for exit on before 3 months from the date of allotment. The units of the scheme are available in the dematerialized mode also.

Rahul Aggarwal, Fund Manager of the Scheme is a PGDM from IIM Calcutta, B.E. (Computer Science) and Certified FRM  (Financial Risk Manager). He has over 8 years of experience including experience in capital markets, especially on fixed income, credit risk, trading and portfolio management. Prior to joining IIFL Mutual Fund, he was associated with L&T Mutual Fund.

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. 
This product is suitable for investors who are seeking*
  • Income over short to medium term
  • Investments primarily in money market and short term debt instruments.
Low Risk  (Blue);
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
Risk is represented in following colours:

(BLUE) investors understand that their principal will be at low risk
(YELLOW) investors understand that their principal will be at medium risk
(BROWN) investors understand that their principal will be at high risk

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