Birla Sun Life Mutual Fund files offer document with SEBI to launch Birla Sun Life Short Term FMP-Series 39 to Series 48, a closed end income scheme. The New Fund Offer price is Rs 10 per unit.
Entry and exit load charge will be nil for the scheme. The scheme offers dividend payout and growth option. The scheme seeks to collect a Minimum Target Amount of Rs 20 crore.
The scheme will be benchmarked against CRISIL Liquid Fund Index for schemes with duration of 30-91 days and CRISIL Short Term Bond Fund Index for schemes with duration of 92 to 364 days. The minimum application amount is Rs 5000 and in multiple of Rs 10 thereafter.
The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
Source: Accord Fintech
