Mumbai: Daiwa Mutual Fund has launched an open ended gilt scheme, Daiwa Government Securities Fund – Short Term Plan. The new fund offer will be open from March 25, 2011 to March 30, 2011.
The investment objective of the scheme will be to generate income and capital appreciation by investing predominantly in sovereign securities issued by the Central Government (including Treasury Bills) and /or by State Governments, with maximum average portfolio maturity of less than three years. The scheme would allocate 65 to 100 per cent of assets in dated securities issued by Central and State Governments with low risk profile. The scheme would further allocate up to 35 per cent of assets in money market instruments with low risk profile.
The minimum application amount will be Rs 10,000 and the scheme will charge not charge any entry or exit load. The scheme will be managed by Killol Pandya and will be benchmarked against I-Sec Si-bex index.
