| Mahindra Mutual Fund has launched a new fund named as Mahindra Overnight Fund, An open ended debt scheme investing in overnight securities The New Fund Offer (NFO) price for the scheme is Rs 1000 per unit. The new issue will be open for subscription from 22 July to 23 July 2019.
The investment objective of the Scheme is to seek to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day including TREPS (Tri-Party Repo) and Reverse Repo.
The scheme offers growth option, dividend option, sub option / facility: daily dividend (reinvestment).
The scheme would allocate 0%-100% of assets in debt and money market instruments maturing on or before the next business day including TREPS (Tri-Party Repo) and Reverse Repo with low risk profile.
The minimum application amount is Rs 1000 and in multiples of Re. 1/- thereafter.
The minimum additional 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 Overnight Index.
The fund manager of the scheme is Rahul Pal.
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