Baroda Pioneer Asset Management Company has launched an open-ended fixed income scheme — Baroda Pioneer Dynamic Bond Fund. The scheme will invest entirely in fixed income instruments across various maturity profiles.
According to a company statement, the scheme will track interest rate movements in the short-term by reducing the duration in a rising rate environment, while increasing the duration in a falling interest rate environment.
The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
The benchmark of the scheme is CRISIL Composite Bond Fund Index. Entry load applicable is 0.5 per cent if redeemed within three months from the date of allotment of units.