Shriram Life MF introduces Nifty 1D Rate Liquid ETF
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Shriram Mutual Fund has launched Shriram Nifty 1D Rate Liquid ETF, an open-ended Exchange Traded Fund replicating/ tracking Nifty 1D Rate Index with relatively low interest rate risk and relatively low credit risk. The NFO opens for subscription on July 01, 2024 and closes on July 03, 2024. The Entry Load is not applicable and exit load will be nil for the scheme. The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.
The performance of the Scheme is measured against Nifty 1D Rate Index and its fund managers are Deepak Ramaraju and Gargi Bhattacharyya Banerjee.
The investment objective of the scheme is to invest in Tri Party Repo on Government securities or treasury bills (TREPS) with an aim to provide investment returns that, before expenses, correspond to the returns of the NIFTY 1D Rate Index, subject to tracking error.
