Shriram Mutual Fund files offers document for Liquid Fund
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Shriram Mutual Fund has filed offer document with SEBI to launch an open-ended liquid scheme named ‘Shriram Liquid Fund'. The offer for unit of Rs 1000 per unit at par during NFO. Entry load will be Nil. Exit load for Day 1 is 0.0070%, Day 2 is 0.0065%, Day 3 0.0060%, Day4 0.0055%, Day5 0.0050%, Day 6 0.0045% and Day 7 onwards will be nil. The Scheme offers only growth option for investment and minimum target subscription amount for the Scheme to be raised is Rs 20 crore.
The performance of the scheme will be benchmarked against Nifty Liquid Index A-I. The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate optimal returns consistent with lower to moderate levels of risk and high liquidity by investing in debt and money market instruments. The fund maintains an average maturity in the range of <91 days.
