| ITI Mutual Fund has launched a new fund named as ITI Liquid Fund, An open ended liquid scheme. The New Fund Offer (NFO) price for the scheme is Rs 1000 per unit. The new issue will be open for subscription from 24 April 2019 to 24 April 2019.
The investment objective of the Scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through a portfolio of money market and debt securities.
The scheme will have two plans: regular and direct, each plan will have the following options:
Growth and Dividend Option
The Dividend option offers the following sub-options:
Daily (Reinvestment), Weekly (Reinvestment), Fortnightly (Reinvestment and Payout), Monthly (Reinvestment and Payout) and Annually (Reinvestment and Payout)
The scheme would allocate Upto 100% of assets in money market instruments (including cash and reverse repo and debt instruments with maturity up to 91 days) with low to medium risk profile and invest upto 30% of asset in securitized debt instruments with residual maturity up to 91 days with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
The minimum additional purchase amount is Rs 1000 and in multiples of Re. 1 thereafter
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry Load: Not Applicable.
Exit Load: Nil
Benchmark Index for the scheme is CRISIL Liquid Fund Index.
The fund managers of the scheme are Milan Mody & George Heber Joseph.
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