Financial Daily from THE HINDU group of publications
Thursday, Feb 16, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 16, 2006 |
|
|
|
|
|
|
|
Markets
-
New Fund Offer Tata MF, HSBC MF file offer documents for liquid funds Our Bureau
Kolkata , Feb. 15 TATA MF and HSBC MF have filed offer documents with the SEBI for liquid funds. The proposed Tata Liquidity Management Fund and HSBC Instant Liquidity Fund will both be open-ended schemes that will invest in debt and money market instruments. The idea is to provide returns in line with a high level of liquidity and low interest rate risk. The HSBC scheme will offer multiple options - christened Regular, Institutional, and Institutional plus - to investors. The first will provide daily and weekly dividend reinvestment and growth sub-options. The other two will have daily, weekly, and monthly dividend and growth sub-options. Minimum application amounts are Rs 1 lakh for the Regular option, Rs 1 crore for Institutional, and Rs 10 crore for the Institutional Plus option, according to the HSBC MF offer document. The Tata MF scheme, which may invest entirely in money market and other short-term debt instruments, will be free to invest up to 20 per cent in domestic securitised debt. Interest rate derivatives may also be used if circumstances so warrant, according to the offer document.
More Stories on : New Fund Offer | Mutual Funds
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|