Edelweiss MF launches Fixed Maturity Plan; NFO to close on March 20

Posted By: Religare
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Edelweiss MF launches Fixed Maturity Plan
Edelweiss Mutual Fund launched a new close ended income scheme named "Edelweiss Fixed Maturity Plan - Series 6", with maturity time of 380 days.

The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on March 20.

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.

The minimum application amount was Rs 5,000 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. Kapil Punjabi and Dhilip Krishna will be the Fund Manager(s) of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met, through investments in debt and money market instruments.

Hence, the scheme will allocate 0 to 100 per cent of assets in debt and money market instruments.

Read more about: mutual funds, edelweiss, nfo
Story first published: Wednesday, March 14, 2012, 23:34 [IST]
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