Canara Robeco Mutual Fund has launched Canara Robeco Dynamic Bond Fund, an open-ended debt Fund. The new issue will be open for subscription from 4 May to 20 May 2009. The NFO price for the fund is Rs 10 per unit. Fund re-opens for continuous sale & repurchase within 30 days from the closing of NFO.
The investment objective of the Fund is to seek to generate income from a portfolio of debt and money market securities.
The scheme offers two plans viz. retail and institutional plan with growth, growth option will have automatic repurchase option. The dividend option further offers dividend payout and dividend reinvestment facility.
The minimum investment amount under retail plan will be Rs 5000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.
The scheme seeks to collect a minimum corpus of Rs 10 crore during NFO period.
The scheme will invest upto 70% in government of India and corporate debt securities including securitised debt and excluding Debt/GOI securities with initial maturity of less than one year and Treasury bills. And it will invest upto 30%-100% in money market instruments.
Investment by the fund in securitised debt will not normally exceed 50% of the net assets at the time of investment. Investment by the fund in derivative instruments may be done for hedging and portfolio balancing up to 30% of the net assets at the time of investment.
The scheme will not charge any entry load. The scheme will charge 0.50% of exit load for the retail plan for redemption within 6 months from the date of allotment for investments less than Rs 50 lakh and nil for investments equal to Rs 50 lakh or more. It will not charge any exit load for the institutional plan.
The performance of the scheme is being benchmarked to the performance of Crisil Composite Bond Fund Index. Ritesh Jain will be the fund manager for the scheme.
The investment objective of the Fund is to seek to generate income from a portfolio of debt and money market securities.
The scheme offers two plans viz. retail and institutional plan with growth, growth option will have automatic repurchase option. The dividend option further offers dividend payout and dividend reinvestment facility.
The minimum investment amount under retail plan will be Rs 5000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 1 crore and in multiples of Re 1 thereafter.
The scheme seeks to collect a minimum corpus of Rs 10 crore during NFO period.
The scheme will invest upto 70% in government of India and corporate debt securities including securitised debt and excluding Debt/GOI securities with initial maturity of less than one year and Treasury bills. And it will invest upto 30%-100% in money market instruments.
Investment by the fund in securitised debt will not normally exceed 50% of the net assets at the time of investment. Investment by the fund in derivative instruments may be done for hedging and portfolio balancing up to 30% of the net assets at the time of investment.
The scheme will not charge any entry load. The scheme will charge 0.50% of exit load for the retail plan for redemption within 6 months from the date of allotment for investments less than Rs 50 lakh and nil for investments equal to Rs 50 lakh or more. It will not charge any exit load for the institutional plan.
The performance of the scheme is being benchmarked to the performance of Crisil Composite Bond Fund Index. Ritesh Jain will be the fund manager for the scheme.
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