The Hindu Business Line : Sahara MF moots debt scheme with `Suraksha' tag

Sahara Mutual Fund's latest proposal for an NFO carries a tag that Indian investors have often associated with LIC and other insurance companies, but rarely with mutual funds.

The proposed `Sahara Suraksha Fund', which if approved will possibly be the first scheme to bear a vernacular name.

The fund will predominantly invest in debt securities.

The fund, which will allow a small margin for equity allocations, will seek to ensure capital preservation and generate returns. It will be benchmarked against the Crisil MIP Blended Index.

Sahara Suraksha Fund will not be a capital-protected scheme, the offer document filed with SEBI has mentioned.

While there is no guarantee that the investment objectives will be achieved, the fund will, under normal circumstances, have at least 80 per cent of its assets invested in debt and money market instruments.

This may be scaled up to 100 per cent. Up to 20 per cent may be put in equity.

The fund, the offer document has stated, will be managed by Mr Puneet Srivastava.

It may largely be invested in those securitisation issuances, which have AAA ratings, indicating the highest level of safety from the point of view of credit risk.

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