Deutsche Mutual Fund has launched another cash fund: Deutsche Money Plus Fund. Initially, it would be open for subscription between February 10 and March 9, 2006.
The scheme would invest in debt and money market securities across the credit spectrum. The fund will primarily invest its assets in government securities, corporate debt and money market instruments of average maturity less than an year, but it may invest up to 30 per cent of its assets in securities with average maturity greater than one year. It aims to preserve capital and offer higher return and moderate liquidity over a short-medium term. It would benchmark its performance against CRISIL Liquid Fund Index.
The fund would not charge an entry load, while an exit load of 0.15 per cent would be charged, if units are redeemed within 30 days from the date of allotment.