Moneycontrol News
IDFC Mutual Fund has sought SEBI's consent to launch IDFC Ultra Short Term Fund, according to the draft offer document on the regulator's website.
The open-ended scheme will deploy its entire corpus in debt securities and money market instruments with Macaulay duration between 3 and 6 months.
The Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the cash flow by the price.
Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 100 and then any amount thereafter
* Performance benchmark: Crisil Liquid Fund Index
* Exit Load: Nil
* Fund manager: Harshal Joshi
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