Union KBC MF launches Liquid Fund

Union KBC Mutual Fund has launched Union KBC Liquid Fund, an open ended liquid scheme. The investment objective of the scheme is to provide reasonable returns commensurate with lower risk and high level of liquidity through a portfolio of money market and debt securities.

The New Fund Offer (NFO) opens and closes subscription on June 14, 2011. The scheme re-opens for continuous sale and repurchase on June 16, 2011. The New Fund Offer price for the scheme is Rs 10 per unit. (View - New Fund Offers open NOW)

The scheme offers growth and dividend option. Dividend option offers reinvestment, payout and sweep facility.

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

Entry and exit load will be nil.

The scheme would allocate upto 100% of assets in money market and debt instruments with residual maturity upto 91 days (including floating rate debt instruments, securitized debt, mutual fund units of debt schemes).  Investments in securitized debt including Pass Through Certificates (PTCs) not to exceed 25% of the net assets of the Scheme as at the time of purchase.

The benchmark Index for the scheme is CRISIL Liquid Fund Index.

The fund manager for the scheme will be Mr. Devesh Thacker.

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