The scheme would allocate 65-80 per cent in equity and equity related securities and 20-35 per cent in debt and money market securities, the company said.
Srinivasan Ramamurthy will oversee the scheme, instead of Ratish Varier
Earlier, the minimum redemption amount was Rs 1,000 or 1 unit or account balance, whichever was lower
The open-ended debt scheme will allocate at least 65 percent of its assets in AA and lower-rated corporate bonds
In addition to being the strategic leader for all equity activities, Balasubramaniam will also manage some of the funds on a hands-on basis
The scheme also has the provision to deploy up to 20% in debt and money market instruments collaterised borrowing and lending obligation, reverse repo.
Under systematic withdrawal plan, the transaction dates for monthly and quarterly frequencies will be 10th and 25th of the month
As per the riskometer, both funds will fall under the category of moderately high risk funds.
Mahindra Mutual Fund is targeting assets under management (AUM) of over Rs 5,000 crore in the next two years with distinct focus on rural and semi-urban markets.