Morgan Stanley Mutual Fund has launched a new fund - Morgan Stanley Ultra Short Term Fund, an open ended debt scheme. The New Fund Offer (NFO) priced at Rs 10 per unit will remain open for subscription from 17 July - 24 July 2013.
The scheme would allocate 100% of assets in money market & debt instruments with average maturity of the portfolio not being more than 1 year with low risk profile. Including securitized debt up to 50% of net assets of the Scheme and no investments shall be made in foreign securitized debt.
The scheme will charge no entry and exit load.
The minimum application amount is Rs 5,000 and in multiple of Rs 1 thereafter.
The fund seeks to garner a minimum subscription amount of Rs 20 crore during the NFO period.
CRISIL Liquid Fund Index will be the benchmark index for the scheme
Ritesh Jain will be the fund manager for the scheme. Investment in foreign securities will be managed by Sridhar Sivaram and Piyush Baranwal.
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