Indiabulls Mutual Fund Investment Company has launched a new open-ended debt scheme called Indiabulls Savings Fund. The NFO (New Fund Offer) has opened for subscription from September 17, 2018, and will close on September 18, 2018.
The investment aim of the Savings Fund is to provide reasonable returns, with moderately low risk and a high level of liquidity.
The NFO price for the open-ended debt scheme is 1000 Rupees per unit. The minimum application amount fixed for the scheme is 500 Rupees and in multiples of one Rupee thereafter.
The minimum additional amount for the scheme is 500 Rupees and in multiples of one Rupee thereafter. The entry load is not applicable for the scheme and there is no exit load charge for the fund.
The Savings Fund scheme of Indiabulls Mutual Fund Investment Company offers both Regular Plan and Direct Plan with Growth and Dividend Options. The Dividend option has different facilities including Dividend Reinvestment facilities (daily, weekly, fortnightly and monthly frequency) and Dividend Payout facilities (weekly, fortnightly and monthly frequency).
The Indiabulls Savings Fund will invest up to 100 percent of its assets in money market securities with a low-risk profile. The scheme aims to collect a minimum subscription amount or a minimum target amount of 20 crore Rupees during the NFO period.
The Benchmark Index for the Indiabulls Savings Fund scheme is CRISIL Money Market Index. The fund house has assigned Malay Shah as the fund manager of the scheme, according to KJMC.
The Savings Fund of Indiabulls Mutual Fund Investment Company is suitable for investors who are looking for short-term savings, investors who are seeking a money market scheme that aims to offer reasonable returns, with moderately low risk and a high level of liquidity, and investors who are in quest of moderately low risk, according to the information available in the official website of SEBI.[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. ]