Canara Robeco’s NFO July 2019
Canara Robeco Overnight Fund is managed by Canara Robeco Mutual Fund. It is an open-ended debt scheme investing in overnight funds. This scheme has opened for subscription on July 19, 2019, and closed on July 23, 2019. The NFO opens for further or continues subscription from 25th July 2019.
The investment objective of the scheme is to provide income corresponding with low risk and providing a high level of liquidity by investing primarily in overnight securities.
The Canara Robeco NFO is available in Regular and Direct plans with an option of growth and dividend. The daily dividend reinvestment option is available for both regular and direct investors.
Investment Details of Canara Robeco Overnight Fund
|Return since Launch:||0.40%|
|Minimum Investment (R)||5,000|
|Minimum Addl Investment (R)||1,000|
|Minimum Withdrawal (R)||1,000|
|Minimum SWP Withdrawal (R)||–|
|Minimum Balance (R)||–|
The investors can invest a minimum of Rs 5000 and in multiples of Re 1 thereafter. For subsequent purchases, one will pay a minimum of Rs 1000 and in multiple Re 1 thereafter.
Systematic Transfer Plan
For Daily/Weekly/Monthly frequency – one will invest a minimum of Rs 1000 and in multiples of Re 1 thereafter,
For quarterly frequency – investors should invest a minimum of Rs 2000 and in multiples of Re 1 thereafter
Systematic Withdraw Plan
For monthly frequency – Rs 1000 and in multiples of Re 1 thereafter and
For quarterly frequency, investors should withdraw a minimum of Rs 2000 and in multiples of Re 1 thereafter
Minimum redemption Amount :
Investors who are redeemed their units will net to pay a minimum of Rs 1000 and in multiples of Re 1 thereafter
Entry load and exit load does not applicable to anyone.
Canara Robeco Mutual Funds NFO is suitable for Regular income over the short term that may be in line with the overnight call rates. The NFO offers a low-risk investment to the investors. Suma Prasad will manage the scheme while the CRISIL Overnight fund index will be the benchmark to the NFO.
The scheme will invest a maximum of 100 percent in Overnight securities with a low-risk profile.
Canara Robeco Mutual Fund was established in December 1987 which is the second-oldest and largest Mutual fund industry in India. The Asset Management Company of Canara Robeco incorporated in 1993. It offers various investment options, including diversified and thematic equity schemes, hybrid and monthly income funds.
Disclaimer: This article provides only information regarding the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.