Canara Robeco Mutual Fund has launched a new fund named as Canara Capital Protection Oriented Fund - Series 1 - 36 Months (Plan A), a close ended capital protection oriented fund. During the New Fund Offer (NFO) period, units will be offered at Rs. 10 per unit. The new issue is open for subscription from 11 February and closes on 24 February 2011. The scheme has been rated CARE AAAf (SO) by CARE.
The investment objective of the scheme is to seek capital protection by investing in high quality fixed income securities maturing on or before the maturity of the scheme and seeking capital appreciation by investing in equity and equity related instruments.
The scheme offers growth & dividend payout option.
Canara Capital Protection Oriented Fund - Series 1 - 36 Months (Plan A) would allocate 75% to 100% of assets in Indian Debt Instruments and Money Market Instruments with low to medium risk profile. It would further allocate upto 25% of assets in equity and equity related instruments with medium to high risk profile
The minimum application amount is Rs. 5,000 and in multiples of Rs. 1 thereafter.
The fund seeks to collect a minimum subscription amount of Rs. 1 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme will be Crisil MIP Blended Fund Index.
The fund manager for the scheme will be Ritesh Jain and Anand Shah.
Source: http://www.indiainfoline.com/Markets/News/Canara-Robeco-MF-Launches-Capital-Protection-Oriented-Fund/3548613992
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