Canara Robeco MF launches Gilt Advantage Fund

Canara Robeco Mutual Fund has launched a new fund as Canara Robeco Gilt Advantage Fund, an open ended gilt scheme. The investment objective of the scheme is to generate returns commensurate with low credit risk by predominantly investing in the portfolio comprising of Short to medium term Government securities guaranteed by Central and State Government with a weighted average portfolio duration not exceeding 3 years.

The New Fund Offer (NFO) will be open for subscription from February 14 and closes on February 21, 2011.  The scheme re-opens for continuous sale and repurchase on March 8, 2011. The New Fund Offer (NFO) 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 dividend payout and dividend re-investment facility.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. For additional purchases Rs 1000 and in multiples of Re 1 thereafter.

Entry and exit load charge will be nil for the scheme.

The scheme would allocate upto 100% of assets in sovereign securities issued and guaranteed by State and Central Government with average portfolio duration of the fund not exceeding 3 years, Treasury Bills with low to medium risk profile.

The Benchmark Index for the scheme will be I-Sec Si-Bex Index.

The fund will be managed by Ms. Suman Prasad.