Religare Mutual Fund on Monday launched a new fund - Religare Medium Term Bond Fund - an open-ended income scheme that seeks to generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments.
A minimum of 80 per cent of the schemes portfolio would be invested in high quality debt securities having residual maturity up to 5 years. The scheme is benchmarked to the CRISIL Composite Bond Fund Index.
The fund will offer growth and dividend options. The minimum application amount is Rs.5000 and in multiples of Re 1. Units will be issued at Rs 10. An exit load of 1 per cent will be payable on investments redeemed on or before 6 months from the date of allotment.
Saurabh Nanavati, chief executive officer, Religare Mutual Fund, said: “The Religare Medium Term Bond provides investors the opportunity, as the fund will aim to capture the current prevailing attractive yields in a high quality freshly constructed portfolio”.
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