Canara Robeco Asset Management Company today announced the launch of its Canara Robeco InDiGo Fund, an open-end debt scheme.
The new fund offer is open for subscription from May 19 and will close on June 10, the release said.
The scheme will invest a minimum of 65% and a maximum of 90% in Indian debt and money market instruments, a minimum of 10 per cent and a maximum of 35% in gold ETFs.
Ritesh Jain, Head-Fixed Income is the fund manager for this scheme.
Canara Robeco AMC's CEO, Rajnish Narula, said that "Canara Robeco InDiGo Fund focuses on gold...it keeps the purchasing power intact, protects against weakening of the US Dollar, less volatile than equities and valued as a savings/investment tool."
"The combination of fixed income and gold aims to provide enhanced yield without additional duration/credit risk," he added.
Source: http://www.dnaindia.com/money/report_canara-robeco-launches-indigo-fund_1384973
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