Religare Mutual Fund has announced the launch of an open-ended debt scheme — Religare Bank Debt Fund. The new fund offer is open for subscription from December 10-24.
The scheme will invest in a “portfolio of debt and money market instruments issued primarily by banks,” said a release from the company. The scheme will invest 80-100 per cent of assets in debt and money market instruments issued by banks while up to 20 per cent of the assets will be invested in securities issued by Public Financial Institutions, T-bills, CBLO, G-secs, units of debt and liquid mutual fund schemes.
“Risk averse investors looking for a portfolio with relatively low-credit risk and offering superior liquidity can consider investing in a bank debt fund,” said Religare MF CEO Saurabh Nanavati.
The fund is benchmarked to the CRISIL Short Term Bond Fund Index.