The scheme will be benchmarked against the CRISIL Liquid Overnight Index. Alok Bahl will manage the scheme.
According to the scheme information document, the investment objective of the scheme is to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in debt and money market securities having maturity of 1 business day including TREPS (Tri-Party Repo) and Reverse Repo.
The scheme will have a regular and a direct plan with both growth and IDCW options. The scheme will allocate its assets up to 100 % in debt, money market instruments, cash and cash equivalents (including repo) with overnight maturity / maturing on or before the next business day, and 0-5% in G secs and/or T bills with a residual maturity of up to 30 days. The scheme falls under the ‘low’ risk category.
The minimum application amount under growth option is Rs 5,000 and in multiples of Re 1 thereafter. The scheme is suitable for investors seeking income over short term and high liquidity.
