Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 13, 2004 |
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Markets
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Mutual Funds Birla MF files offer document for new bond fund Our Bureau
Mumbai , July 12 BIRLA Sun Life Asset Management Company has filed with the Securities and Exchange Board of India (SEBI) its offer document for the Birla Dynamic Bond Fund. This open-ended income fund offers retail, institutional and institutional premium plans. "The objective of the scheme is to generate optimal returns with high liquidity through active management of the portfolio by investing in high-quality debt and money market instruments. However, there can be no assurance that the fund's objectives will be achieved," states the document filed with SEBI. The minimum investment amount is Rs 5,000 under the retail plan, Rs 1 crore under the institutional plan and Rs 10 crore under the institutional premium plan. The initial offer price of the scheme is Rs 10 per unit at par, as per the offer document. The asset allocation of the fund would be in fixed income securities including Government securities and cash and liquid instruments including money market and short-term debt papers, the offer document says. The scheme may also invest up to 50 per cent of the net assets in such derivative instruments as may be introduced from time to time for the purpose of hedging and portfolio balancing and other uses as may be permitted.
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