Canara Robeco Mutual Fund changed the following fundamental attributes of Canara Robeco Short Term Fund.
Asset Allocation: The fund will allocate 65-100 per cent of its assets in in money market instruments with average maturity of less than 2 years, and the remaining, 0-35 per cent in debt securities with less than 5 years of maturity. Presently it is, 60-100 per cent in money market instruments and remaining in debt securities.
Investment Strategy: The fund will offer Canara Robeco Floating Rate for investing short term surpluses, Canara Robeco Medium Term Opportunities for medium term surpluses and Canara Robeco Income Fund for long term investments. Presently it offers, Canara Robeco Liquid Fund for investing short term surpluses and Canara Robeco Income Fund for long term investments.
Benchmark: The benchmark of the fund has been changed to CRISIL Short Term Bond Fund Index. Presently it is, CRISIL Liquid Fund Index.
The above mentioned changes will be effective from May 19, 2014.