Principal Mutual Fund has registered an offer document with SEBI for its Principal Liquid Plus Fund. The investment objective of the scheme is to generate regular income through investment in debt securities and money market instrument. The scheme will be available in three plans that is regular plan, institutional plan and institutional premium plan. All these three plans will share a common portfolio. Further each of the plans will offer two sub-options namely growth and dividend. Each of the dividend options will have a frequency of declaration of dividend on a daily, weekly and monthly basis. Further, the aforesaid dividend options will have the facility of re-investment, pay-out and sweep.
The scheme may invest in domestic securities debt such as asset backed securities (ABS) or mortgage backed securities (MBS). ABS are securitized debts where the underlying assets are receivables arising from various loans including automobile loans, personal loans, loans against consumer durable, etc. MBS are securitized debts where the underlying assets are receivables arising from loans backed by mortgage of residential / commercial properties.
The scheme would invest in debt market and money market instruments.
The asset allocation will involve the investment up to 100% in fixed rate debt instruments, money market instruments and floating rate debt instruments.
The minimum application amount will be Rs 10,000 under Regular Plan, Rs 1 crore under institutional plan and Rs 10 crore in institutional premium plant.
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