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Friday, January 30, 2009

Sahara MF announces changes In Investment Pattern of Liquid Fund

Change will be on a prospective basis

Sahara Mutual Fund has announced modification in the portfolio characteristics of Sahara 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 Sahara Liquid Fund have been revised as follows:

i) 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.

ii) 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.

iii) In case of securities with put and call option (daily or otherwise) the residual maturity of the securities shall not be greater than 182 days with effect from 01 February 2009 and 91 days with effect from 01 May 2009.

iv) In case the maturity of the security falls on a non-business day then settlement of securities will take place on the next business day.

v) Inter-Scheme transfers of securities having maturity upto 365 days and held in other schemes as on 01 February 2009 shall be permitted till 31 October 2009. With effect from 01 November 2009 such inter scheme transfer will be permitted for securities having a maturity of upto 91 days only.

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