Morgan Stanley Mutual Fund announced today the launch of an openended debt fund ‘Morgan Stanley Ultra Short Term Fund’. The investment objective of the fund is to provide liquidity and generate reasonable returns from a portfolio of money market and short-term debt instruments. The fund will be benchmarked against CRISIL Liquid Fund Index and will be managed by Ritesh Jain, Head of Fixed Income and Lead Portfolio Manager, Fixed Income Boutique at Morgan Stanley Mutual Fund.
The New Fund Offer is priced at Rs. 1000 per unit and will be open for subscription from July 17, 2013 to July 24, 2013 and will open for repurchase from July 29, 2013.