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Bajaj Finserv Mutual Fund has filed draft document with SEBI to launch an open-ended scheme named ‘Bajaj Overnight Fund'. The New Fund Offer price is Rs 1000. The entry load is not applicable for the scheme. Exit load will be nil for the scheme. The Scheme does not provide any option for investment, and seeks to collect a Minimum Target Amount of Rs 20 crore.

The performance of the scheme is benchmarked against CRISIL Overnight Fund AI Index. The minimum application amount is Rs 1,000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to provide reasonable returns commensurate with low risk and high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.