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Thursday, January 09, 2014

Peerless Overnight Fund files offer document with Sebi

An open ended liquid scheme 

Peerless Mutual Fund has filed offer document with Sebi to launch Peerless Overnight Fund, an open ended liquid scheme. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The scheme seeks to provide liquidity to the investors while mirroring overnight returns. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. 

Options/plans: Growth and dividend (payout & reinvestment) options under both regular plan and direct plan. 

Benchmark: Crisil Liquid Fund Index 
 
Loads: Nil 

Minimum Application Amount: Rs 5,00,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs. 20 crore 

Asset Allocation: The scheme shall invest 70%-100% in CBLO/ Reverse Repo, debt instruments, including floating rate instruments, with overnight maturity/ daily put/call option. The scheme shall also invest up to 30% in debt & money market instruments with residual maturity up to 91 days 

Fund Manager: Malay Shah
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