Union KBC MF introduces Ultra Short Term Debt Fund

Union KBC Mutual Fund has announced the New Fund Offer (NFO) Union KBC Ultra Short Term Debt Fund, an open ended debt scheme. The NFO opens and closes for subscription on April 23, 2012. No entry and exit load charge is applicable for the scheme. The scheme offers dividend payout and growth option. The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs.5000 and in multiple of Re.1 thereafter. The scheme will be managed by Devesh Thacker. The investment objective of the scheme is to provide reasonable returns commensurate with low to moderate risk and high level of liquidity through a portfolio of money market and debt securities.