Baroda Pioneer has announced the launch of Baroda Pioneer PSU Bond Fund which is an open ended Debt Scheme.
The portfolio of the fund would predominantly consist of PSU bonds and government securities of varying yields and maturities. The portfolio will track interest rate movements with low credit risk due to its exposure to PSU Bonds.
The fund will invest upto 65 per cent of the assets in debt or debt related instruments issued by PSUs and public financial institutions. The remaining balance 35 per cent would be invested in treasury bills or government securities. Liquidity would be managed through investments in PSU Bank CDs.
The fund offers both growth and dividend options. The New Fund Offer (NFO) would be available from December 7- December 21, 2009. The exit load applicable would be 0.50 per cent if redeemed on or before 90 days. The minimum investment amount would be Rs 5,000. The fund has been benchmarked against CRISIL Bond Fund Index.
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