Canara Robeco Mutual Fund Investment Company has launched a new close-ended income scheme called Canara Robeco Fixed Maturity Plan Series 8. The NFO (New Fund Offer) will be open for subscription from October 08, 2018, to October 11, 2018.
The investment objective of the Canara Robeco FMP Series 8 scheme is to generate income through investments in a portfolio of debt and money market securities maturing either on or before the maturity period of the plan.
The new scheme of the Canara Robeco Mutual Fund will invest 80 percent to 100 percent of assets in debt securities and government instruments including SDLs with low to medium risk profile. The scheme will further deploy up to 20 percent of assets in money market securities with a low-risk profile.
The Canara Robeco Fixed Maturity Plan Series 8 scheme offers Regular and Direct plans with Growth and Dividend (Payout) options. The maturity period of the close-ended income scheme is 1103 days from the date of allocation.
The NFO price for the close-ended income scheme of the Canara Robeco Mutual Fund Investment Company is 10 Rupees per unit. The minimum application amount of the FMP Series 8 scheme is 5000 Rupees and in multiples of 10 Rupees thereafter. There will be no entry load and exit load charges for the scheme.
The Canara Robeco Fixed Maturity Plan Series 8 scheme aims to collect a minimum subscription amount of 20 crore Rupees during the NFO period. The scheme is benchmarked against Crisil Short Term Bond Fund Index.
Canara Robeco Mutual Fund has appointed Suman Prasad as the fund manager of the Fixed Maturity Plan Series 8 scheme, as reported on KJMC.
Mrs. Prasad has been working with Canara Robeco Asset Management Company since 1996, according to the Economic Times. She holds B.Sc and PGDMS degrees as her educational qualifications.
The Canara Robeco Mutual Fund Investment Company has assigned Rajnish Narula as the CEO and M Paparao as the Investor Relations Officer.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]