MUMBAI: Canara Robeco Mutual Fund has launched an open ended Canara Robeco Gilt Advantage Fund. The new fund offer is open from February 14, 2011 to February 21, 2011.
The investment objective of the scheme to generate returns commensurate with low credit risk by predominantly investing in the portfolio comprising of short to medium term government securities guaranteed by central and state government with a weighted average portfolio duration not exceeding 3 years. The scheme would allocate 100 per cent of assets in sovereign securities issued and guaranteed by state and central government with average portfolio duration of the fund not exceeding 3 years, treasury bills with low to medium risk profile.
The minimum application amount will be Rs 5,000 and the scheme will not charge any entry or exit load. The scheme will be managed by Suman Prasad and will be benchmarked against I-Sec Si-Bex Index.
