The objective of the scheme is to seek to generate returns commensurate with low risk and providing high level of liquidity, through investments made in overnight securities having maturity of 1 business day.
The scheme offers growth option and dividend options, sup options: daily dividend (reinvestment), weekly dividend (payout & reinvestment), fortnightly dividend (payout & reinvestment) and monthly dividend (payout & reinvestment).
The scheme would allocate upto 100% of assets in debt securities and money market instruments (including Triparty Repo & Repo) maturing on or before the next business day with low risk profile.
The minimum application amount is Rs 1000 and in multiples of Re 1 /- thereafter.
The minimum additional purchase amount is Rs 1000 and in multiples of Re 1 /- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Overnight Index.
The Scheme will be managed by Piyush Baranwal.
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