Religare Mutual Fund has filed an offer document with SEBI to launch Religare FMP - Series XVI - Plan A to F, a close ended debt scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.
Plans under the scheme having maturity of up to 400 days will invest 100% of its total assets Debt Instruments including money market instruments. For plans maturing between 400 days and 1098 days, a minimum of 60% in debt instruments and a maximum of 40% in money market instruments will be invested. For plans maturing between 1098 days and 1830 days, a minimum of 80% will be invested in debt instruments and a maximum of money market instruments.
The benchmark for plans having a maturity of up to 3 months will be CRISIL Liquid Fund Index. For plans with maturity between 3 months and 36 months the benchmark will be CRISIL Short-Term Bond Fund Index and for plans with maturity above 36 months the benchmark will be CRISIL Composite Bond Fund Index. The fund manager for the scheme will be Nitish Sikand.
