BNP Paribas Mutual Fund has launched a new fund named as BNP
Paribas Income & Gold Fund, an open ended debt scheme with an investment
objective to generate income from a portfolio constituted of debt and money
market securities, along with investments in Gold Exchange Traded Funds (ETFs).
The new issue will be open for subscription on May 17 and
will close on May 31, 2012. The scheme re-opens for continuous sale and
purchase within 5 business days of allotment. . The New Fund Offer (NFO) price
for the scheme will be Rs 10 per unit
The scheme’s portfolio comprises of 65% to 90% debt
instruments and 10% to 35% of assets in Gold ETFs with high risk profile.
The minimum application amount is Rs 5,000 and in multiples
of Rs 1 thereafter. The fund seeks to garner minimum subscription amount of Rs 20
crore during the NFO period.
It offers growth and dividend option. The dividend option
offers dividend payout and dividend reinvestment option.
Entry load charge for the scheme will be nil. Exit load
charge of 1% if redeemed/ switched out upto 12 months, 0.50% between 12 months
- 18 months and Nil if redeemed or switched after 18 months from the date of
allotment will be applicable.
Crisil Short Term Bond Fund Index + Price of Gold with the
ratio of 75:25 will be the Benchmark Index for the fund
The fund will be managed by Puneet Pal.
Source: http://www.moneycontrol.com/news/mf-news/bnp-paribas-mf-launches-bnp-paribas-incomegold-fund_700302.html
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