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Friday, January 30, 2009

Bharti AXA MF announces changes In Portfolio Characteristics of Liquid Fund

Change will be on a prospective basis

Bharti AXA Mutual Fund has announced modification in the portfolio characteristics of Bharti AXA Liquid Fund, an open ended liquid scheme.

In accordance with Sebi circular date 19 January 2009, the investment pattern indicating characteristics of the portfolio of the liquid scheme. Accordingly, following changes are being made in the offer documents/ scheme information documents/ key information memorandum of Bharti AXA Liquid Fund.

1) With effect from 01 February 2009, the scheme shall make investments in / purchase debt and money market securities with maturity of upto 182 days only.

2) With effect from 01 May 2009, the scheme shall make investments in / purchase debt and money market securities with maturity of upto 91 days only.

3) With regards to 1 and 2 above, in case of securities where the principal is required to be repaid in a single payout, the maturity of the securities shall mean residual maturity. In case the principal is to be repaid in more than one payout, the maturity of the securities shall be calculated on the basis of weighted average maturity. In case of securities with put and call options (daily or otherwise), the residual maturity of the securities shall not be greater than 182 days with effect from 1 February 2009 and 91 days with effect from 01 May 2009.

4) Inter-Scheme transfers of debt and money market securities having maturity upto 365 days and held in other schemes of Bharti AXA Mutual Fund as on 01 February 2009 shall be permitted in upto 31 October 2009. Thereafter, inter-Scheme transfers will be permitted for debt and money market securities having maturity upto 91 days only.

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