Objective of Scheme:
The investment objective of the Scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized.
For this scheme it will be benchmarked to Crisil Short Term Bond Fund Index.
Minimum Application Amount:
Minimum application amount is 10,000 and multiples of Re 10/-
Options under Plan:
Growth Option: The income earned in the scheme shall remain invested in the option. Generally, no dividend shall be declared in this option.
Dividend Option: Suitable for investors seeking income by way of dividend.
Under this option, the Fund will endeavour to declare dividends as and when deemed fit by the Fund and/or on &/or before the closure of the scheme. In case no dividend is declared during the tenure of the scheme or at closure, the net surplus, if any, will remain invested and be reflected in the NAV.
As per the present tax laws, the income distributed by the Scheme is exempt in the hands of investors. Units of the Scheme are not subject to Wealth Tax and Gift Tax.
There will also be no tax deduction at source on redemption irrespective of the redemption amount for resident investors.
NRIs, FIIs and PIOs may invest in the scheme on a full repatriation basis. (Investment will be governed by rules laid down by RBI/SEBI in this regard).