Mahindra MF introduces Overnight Fund

Mahindra Mutual Fund (MF) has launched the Mahindra Overnight Fund, an open ended debt scheme. The NFO opens for subscription on July 22, 2019 and closes on July 23, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 1000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against CRISIL Overnight Index and its fund manager is Rahul Pal.

The investment objective of the scheme is to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day including TREPS (Tri-Party Repo) and Reverse Repo.