Indiabulls Mutual Fund has launched the Indiabulls Savings Fund, a short term savings scheme, via a new fund offer (NFO). The NFO of this debt scheme was started on 17th September and it will close on 18th September. This scheme is designed to provide high level of liquidity to investors along with reasonable returns and moderately low levels of risk. This is an open ended fund with zero exit load allowing investors to purchase and redeem fund units on all business days without any additional cost.
Indiabulls Savings Fund will invest up to 100% of its assets in various money market instruments with maturities of up to 1 year. Additionally the scheme can also make derivative investments which may account for up to 100% of the scheme’s portfolio. Among other investment opportunities, this debt scheme may allocate up to 20% of net assets towards securities lending. This fund will not invest in foreign securities or engage in short selling.
CRISIL Money Market Index will serve as benchmark for the Indiabulls Savings Fund. This index is designed to track the performance of a portfolio comprising treasury bills (T-Bills), certificate of deposits (CDs) and commercial papers (CPs) of various maturities. This is a good representation of the major investments of the Indiabulls Savings Fund, making the CRISIL Money Market Index the scheme’s ideal benchmark. As of 31st August 2018, The CRISIL Money Market Fund had featured 1 year, 3 year and 5 year returns of 7.19%, 7.37% and 8.27% respectively. These returns are in line with a portfolio designed to maximise liquidity and maintain overall risk at moderately low levels.
This new money market scheme from Indiabulls Mutual Fund will be managed by Malay Shah. He is currently manages other popular funds including Indiabulls Liquid Fund, Indiabulls Ultra Short Term Fund and Indiabulls Savings Income Fund. Among these, the Indiabulls Liquid Fund is by far the most popular scheme offered by the AMC and it featured AUM of Rs. 6,725 crores on 31st August 2018.
Additional Information About the Indiabulls Savings Fund NFO :
| Minimum Investment | Rs. 500 |
| Plans and Options Available | Direct/Regular, Growth/Dividend (payout and reinvest) |
| Benchmark | CRISIL Money Market Index |
| Fund Manager | Malay Shah |