Shriram Mutual Fund has launched Shriram Nifty 1D Rate Liquid ETF, an open-ended exchange-traded fund tracking the Nifty 1D Rate Index.
ETMarkets.com
2/7
NFO Period
The new fund offer or NFO of the scheme is open for subscription and will close on July 3.
iStock
3/7
Objective of the scheme
The objective of the scheme is to invest in Tri Party Repo on Government securities or treasury bills (TREPS). The Scheme aims to provide investment returns that, before expenses, correspond to the returns of the NIFTY 1D Rate Index, subject to tracking error.
Getty Images
4/7
Benchmark and fund manager
The performance of the scheme will be benchmarked against Nifty 1D Rate Index. The fund managers will be Deepak Ramaraju and Gargi Bhattacharyya Banerjee.
iStock
5/7
Minimum application amount
The minimum application amount for investment is Rs 1,000 and in multiples of Re 1 thereafter.
Getty Images
6/7
Allocation of assets
The scheme will invest 95-100% in tri-party repo on government securities or t-bills, reverse repo and cash and cash equivalents and 0-5% in other money market instruments with a residual maturity of upto 30 days.
iStock
7/7
Suitable for which investors?
The fund is suitable for investors who are seeking a stable, liquid alternative to traditional savings accounts and want safety and liquidity for short-term funds.The principal invested in the scheme will be at “low” risk according to the riskometer of the scheme.