Religare Mutual Fund unveils Religare Bank Debt Fund

Mutual Funds

oi-Sneha

By Sneha B K

Published: Tuesday, December 11, 2012, 10:52 [IST]

Religare Mutual Fund has unveiled a new fund named as Religare Bank Debt Fund, a open ended debt scheme. The face value of the new issue will be Rs 1000 per unit. The new issue will be open for subscription from 11 December 2012 and will close on 24 December 2012.

Objective of scheme:

To generate optimal returns by investing in a portfolio of debt & money market instruments issued primarily by banks. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

Options: The Scheme offers:

• Growth option
• Dividend option

The investors should indicate option for which subscription is made by indicating the choice in the appropriate box provided for this purpose in the application form.

Liquidity:

The Scheme will offer Units for purchase and redemption at Applicable NAV on all Business Days on an ongoing basis commencing not later than 10 Business Days from the closure the NFO Period. The Mutual Fund will dispatch redemption proceeds within 10 business days from the date of acceptance of redemption requests at the Official Points of Acceptance.

Benchmark:

For this scheme it will be benchmarked to CRISIL Short-Term Bond Fund Index

Minimum Application Amount:

Minimum application amount is Rs 5,000 & in multiples of Rs.1 thereafter.

Transaction Charge:

A transaction charge, as follows, is payable to distributors who have opted to receive transaction charge*:
i. For existing investor in a Mutual Fund: Rs100/- per subscription of Rs10,000/- and above;
ii. For first time investor in Mutual Funds: Rs 150/- per subscription of Rs 10,000/- and above.

*Distributors shall also have the option to either opt in or opt out of levying transaction charge based on type of the product.

However, there will be no transaction charge on:

i. Subscription of less than Rs 10,000/-; or
ii. Transactions other than purchases / subscriptions relating to new inflows; or
iii. Direct subscription (subscription not routed through distributor); or
iv. Subscription routed through distributor who has chosen to ‘Opt-out' of charging of transaction charge; or
v. Transaction routed through Stock Exchange(s).

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