Bank of India Mutual Fund has filed draft documents with the market regulator SEBI to launch the Bank of India Money Market Fund, which is an open-ended debt scheme investing in money market instruments. The scheme will be managed by Mithraem Bharucha, having more than 15 years of experience in the Fixed Income market domain.
The investment objective of the Bank of India Money Market Fund is to generate returns with reasonable liquidity for the unitholders by investing in money market instruments. There is no assurance that the investment objective of the Scheme will be achieved.
To pursue its investment objective, the Fund Manager has the discretion to invest across money market instruments in line with the asset allocation pattern of the Scheme. The fund management team will take an active view of the interest rate environment by keeping a close watch on various parameters of the Indian economy. It will take into account the various variables affecting the interest rate scenario, relative valuation of the securities, quality of instruments, maturity profile of the instruments and liquidity of the securities. The minimum application amount is ₹5,000, with subsequent investments allowed in any amount
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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