Mahindra Mutual Fund announced the launch of a new fund offer (NFO)— a balanced fund called “Mahindra Mutual Fund Dhan Sanchay Yojana”.
The new fund aims to generate long-term capital appreciation and income through investments in equity and equity-related instruments, arbitrage opportunities and debt & money market instruments. The NFO opens on January 10 and closes on January 24. The fund would allocate 65 to 85 per cent of the corpus to equity, including 15 to 35 per cent to equity arbitrage, and 15 to 35 per cent to debt instruments and money market securities.
The fund house will charge an exit load of 1 per cent if units are redeemed / switched-out within one year of allotment and there will be nil exit loads if units are redeemed/switched-out after one year. The benchmark index for the fund will be Nifty 50 Index (45 per cent) for equity and Crisil Composite Bond Fund Index (55 per cent) for debt.
As the fund is focused more on rural and semi-urban population more, the minimum application amount is Rs 1,000 and in multiples of rupees one.
raviranjan@mydigitalfc.com
The new fund aims to generate long-term capital appreciation and income through investments in equity and equity-related instruments, arbitrage opportunities and debt & money market instruments. The NFO opens on January 10 and closes on January 24. The fund would allocate 65 to 85 per cent of the corpus to equity, including 15 to 35 per cent to equity arbitrage, and 15 to 35 per cent to debt instruments and money market securities.
The fund house will charge an exit load of 1 per cent if units are redeemed / switched-out within one year of allotment and there will be nil exit loads if units are redeemed/switched-out after one year. The benchmark index for the fund will be Nifty 50 Index (45 per cent) for equity and Crisil Composite Bond Fund Index (55 per cent) for debt.
As the fund is focused more on rural and semi-urban population more, the minimum application amount is Rs 1,000 and in multiples of rupees one.
raviranjan@mydigitalfc.com
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