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Essel Mutual Fund Declares Termination Of Its Flexible Income Fund

Essel Mutual Fund announces winding up of Essel Flexible Income Fund, with effect from August, 14 August 2018. The Essel MF Trustee Limited has decided to close the open-ended dynamic debt scheme investing across the duration of the Essel MF.

The main investment objective of the Flexible Income Fund is to produce reasonable returns through active duration management of the portfolio while maintaining liquidity by investing in debt instruments and money market securities over different maturity periods.

The performance of the scheme is benchmarked under the CRISIL Composite Bond Index. The Face Value of the open-ended dynamic debt scheme is 10 Rupees per unit, and the fund size is 0.68 Crore Rupees.

The Fund Manager of the scheme is Mr. Killol P Pandya. He has been managing the open-ended dynamic debt scheme of the Essel Mutual Fund since September 2015.

Before joining Essel MF or Peerless Funds Management Co. Limited, Mr. Pandya has worked with LIC Nomura Mutual Fund AMC, SBI Funds Management Pvt Ltd, Daiwa Asset Management (India) Pvt Ltd, IL&FS Investsmart Ltd, and Darashaw & Co. Pvt. Ltd.

He holds B.Com (H) from N.M College of Commerce, MMS (Finance) from K.J. Somaiya Institute of Management Studies and Research, and DPCM from ICFAI.

The scheme was launched in January 2013 and offers both Regular and Direct Plans with Growth and Dividend Options. The Dividend Option offers Divided Quarterly and Dividend Monthly sub-options.

The NAV (Net Asset Value) of the scheme under Direct Plan is 14.9187 Rupees and the AUM (Asset Under Management) of the Flexible Income Fund is 0.29 Crore Rupees, as on August 03, 2018, reported The Economic Times.

Essel Finance Wealth Zone Private Limited (EFWZ), a completely owned subsidiary of Essel Finance Management LLP, holds the entire share of Essel Finance AMC Limited (formerly Peerless Funds Management Co. Limited) and Essel MF Trustee Limited (formerly Peerless Trust Management Co. Limited), based on the information in official website of the fund house.

Essel Mutual Fund declares the winding up of the Essel Flexible Income Fund, according to KJMC.

[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. ]
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Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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