Aditya Birla Sun Life Mutual Fund has announced the launch of the Aditya Birla Sun Life Overnight Fund, an open-ended debt scheme investing in overnight securities.
The fund will invest in the money market & debt instruments of 1-day maturity i.e. any given day the fund manager will invest the money in instruments with maturity up to 1 day.
In the press release, the company said that, “The fund will offer investors a combination of safety along with high liquidity combined with reasonable returns. Owing to its strategy of investing in securities with 1-day maturity, the fund carries no duration risk and no credit risk. This makes it the safest possible investment avenue for an investor for very short-term investment tenors and one who seeks to avoid volatile market cycles.”
Benchmarked against CRISIL Overnight Index, Kaustubh Gupta is the fund manager of the scheme.
