Publish Date:
Bajaj Finserv Mutual Fund introduces – Bajaj Finserv Overnight Fund
It is an open-ended debt scheme investing in overnight securities with Relatively Low Interest Rate Risk and Relatively Low Credit Risk.
Accordingly, the investment objective of the scheme aims to provide reasonable returns commensurate with low risk and high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day. There is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, Bajaj Finserv Overnight Fund will hold an allocation of 0% to 100% of its assets in Overnight securities or debt / money market instrument maturing on or before the next business day.
As per the Scheme Information Document, Bajaj Finserv Overnight Fund aims to provide an investment vehicle to meet the needs of the Investors who want to deploy their funds for a very short period. Investments under the Scheme would be made mainly in Triparty Repo Trades, debt and money market instruments and cash and cash equivalents with overnight maturity. The Scheme may invest in liquid funds for overnight deployment.
Bajaj Finserv Overnight Fund’s performance will be benchmarked against CRISIL Liquid Overnight Index.
The scheme will be managed by Mr Siddharth Chaudhary and Mr Nimesh Chandan.
The NFO opens for subscription on June 29, 2023 and closes on July 04, 2023. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The fund's face value is Rs 1000/- per unit. The minimum subscription amount is Rs 1,000/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.