The Hindu Business Line : Update

HSBC Mutual Fund has announced the revision in the benchmark index of HSBC Ultra Short-Term Bond Fund. The current benchmark index of the scheme is Crisil Liquid Fund Index; this will now be changed to Crisil Liquid Fund Index and Crisil Short-Term Bond with the weightings of 90 per cent and 10 per cent respectively. The mentioned changes took effect from May 8. Canara Robeco Mutual Fund has launched Canara Robeco Dynamic Bond Fund, which will remain open for subscription from May 4 to 20 at the NFO price of Rs 10 per unit. The minimum application amount in the retail and institutional plan will be Rs 5,000 and Rs 1 crore respectively.

The objective of the fund is to generate income from a portfolio of debt and money market securities. The scheme will be benchmarked against Crisil composite bond fund index and will be managed by Mr Ritesh Jain. Edelweiss Mutual Fund has launched an open-ended equity scheme — Edelweiss Diversified Growth Equity (EDGE) Fund. The scheme will remain open for subscription from May 4 to 8, at the NFO price of Rs 10 per unit.

The fund’s primary objective is to generate long-term capital growth from a diversified portfolio, investing predominantly in equity and equity-related securities. The minimum investment amount under Plans A, B and C is Rs 1,000, Rs 25,000 and Rs 10,000 respectively, and in multiples of Re 1 thereafter. The scheme is benchmarked against BSE-500 and is managed by Tarbir Shahpuri.

More Stories on : Mutual Funds | New Fund Offer

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page