The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription on March 26 and will close on March 29.
According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount was Rs 10,000 and in multiples of Rs.10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.
The performance of the scheme will be standardized against Crisil Short Term Bond Fund index and Y D Prasanna will be the Fund Manager of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to minimize interest rate risk will be met, through investments in a portfolio of fixed income securities. Hence, the scheme will allocate 0 to 100 per cent of assets in debt instruments and money market instruments.