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Last Updated : Apr 12, 2019 02:14 PM IST | Source:

Canara Robeco Mutual Fund seeks SEBI nod for overnight debt scheme

The scheme will deploy its entire assets in overnight securities

Moneycontrol News @moneycontrolcom

Canara Robeco Mutual Fund has sought the Securities and Exchange Board of India's approval to launch Canara Robeco Overnight Fund, an open-ended debt scheme investing in overnight securities, according to the draft offer document on the regulator's website.

The scheme will deploy its entire assets in overnight securities, which includes debt and money market instruments with overnight interest rate risk such as debt instruments with residual maturity of a single business day.

Overnight securities also include synthetic overnight positions such as reverse repo/triparty repo and other derivative transactions, where the interest rate is reset every business day

Other features:
Plans: Regular and direct
Options: Growth and dividend
Minimum application: Rs 5,000 and in multiples of Re 1 thereafter
Exit load: Nil
Fund manager: Suman Prasad
Performance benchmark: CRISIL Overnight Fund Index

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First Published on Apr 12, 2019 02:14 pm
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