HDFC Mutual Fund has filed a draft offer document with SEBI to launch its open ended HDFC Ultra Short Term Opportunities Fund. The fund seeks to generate returns by investing in short term bonds including money market, liquid funds and government’s bond. The maturity period does not exceed 24 months in this scheme.
The benchmark of the fund is CRISIL Liquid Bond Index. The exit load for the scheme is 0.25% if redeemed before 1 month. However, no exit load will be charged if redemption is done after 1 month from the date of allotment. The minimum application amount will be Rs 5000 while the minimum additional purchase amount will be Rs 1000.
The fund will be co-managed by Anil Bamboni and Rakesh Vyas.
