Mutual Fund News : ITI MF introduces Overnight Fund

Publish Date:

ITI Mutual Fund has launched an open ended debt scheme under the overnight funds category. The scheme is known as ITI Overnight Fund.

The investment objective of the scheme is to provide reasonable returns commensurate with low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.

The scheme’s performance will be benchmarked against CRISIL Overnight Index and its fund managers are Milan Mody and George Heber Joseph.

The NFO opens for subscription on October 09, 2019 and closes on October 23, 2019.

No Entry load and Exit load will be applicable for the scheme.

The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.