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IDFC Mutual Fund seeks SEBI nod for ultra short term fund

The open-ended scheme will deploy its entire corpus in debt securities and money market instruments

May 24, 2018 / 12:13 PM IST

IDFC Mutual Fund has sought SEBI's consent to launch IDFC Ultra Short Term Fund, according to the draft offer document on the regulator's website.

The open-ended scheme will deploy its entire corpus in debt securities and money market instruments with Macaulay duration between 3 and 6 months.

The Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the cash flow by the price.

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 100 and then any amount thereafter
* Performance benchmark: Crisil Liquid Fund Index
* Exit Load: Nil
* Fund manager: Harshal Joshi

Moneycontrol News
first published: May 24, 2018 12:13 pm

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