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Bajaj Finserv Mutual Fund (MF) has launched Bajaj Finserv Banking and PSU Fund, an open-ended debt scheme predominantly investing in Debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds with relatively high interest rate risk and moderate credit risk. The NFO opens for subscription on October 25, 2023 and closes on October 31, 2023. The Entry load and Exit load is not applicable for the scheme. The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against NIFTY Banking and PSU Debt Index and its fund managers are Siddharth Chaudhary and Nimesh Chandan.

The investment objective of the scheme is to generate income by predominantly investing in debt & money market securities issued by Banks, Public Sector Undertaking (PSUs), Public Financial Institutions (PFI), Municipal Bonds and Reverse repos in such securities, sovereign securities issued by the Central Government and State Governments, and / or any security unconditionally guaranteed by the Govt. of India.