Indiabulls New Fund Offer Details
The Mutual Fund has announced its overnight funds with Sebi. Indiabulls Overnight Fund is an open-ended debt scheme will invest in overnight securities having a maturity of one day.
It has opened for subscription on 20th June and will close on 4th July 2019. The scheme has a maturity of one day and provides better returns compared to the bank’s fixed deposits and is more liquid.
The Objective of the NFO is aiming to provide reasonable returns alike with low risk and high level of liquidity, through investments made primarily in overnight securities.
The scheme offers direct and regular plans for investment into the scheme. The direct plan and Regular plan will have separate NAvs. Indiabulls new fund offer follows Growth and Dividend options in both plans. The Dividend option has three facilities namely, Dividend re-investment, Pay-out, and Sweep facility.
Basic Details of NFO
|Fund House||Indiabulls Mutual Fund|
|Launch Date||July 04, 2019|
|Return Since Launch||0.70%|
|Benchmark||CRISIL Overnight Index|
|Exit Load (%)||0|
Invest a minimum of Rs 500 and in multiples of Re. 1 thereafter.
For Systematic Investment Plan, a minimum of Rs 500 and in multiples of Re. 1 thereafter.
For the redemption and subsequent investments under an existing folio, a minimum of Rs 500 and in Multiples of Re. 1 thereafter.
Indiabulls Overnight Fund Allotment Status
|Instruments||Indicative Allocation ( % of Net Assets) ( Minimum-Maximum)||Risk Profile (High/Medium/Low)|
|Overnight securities or debt instruments maturing on or before the next business day||0% to 100%||Low|
The scheme will invest a maximum of 100 percent in Overnight securities with a low-risk profile. This is suitable for investors who are seeking Short term savings.
CRISIL Overnight Index will be the benchmark to Indiabulls Overnight Fund. It doesn’t invest in foreign securities. Mr. Malay Shah will manage Indiabulls Overnight Fund.
The Indiabulls Group is a financial service company in India. The primary business of this company is to provide housing finance, consumer finance, and wealth management. The company was division as housing finance, Venture Ltd, Real Estate Ltd, and Mutual Funds Ltd. Indiabulls Mutual Fund is a registered mutual fund with the Securities Exchange Board of India.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendations to investors. Please read the offer document carefully or consult your advisor before investing in this scheme.