AIG MF launches Short Term Fund
Name of Fund: AIG Short Term Fund
Scheme: It is an open-ended income scheme.
Objective: The primary objective of the scheme is to seek to generate income from a portfolio constituted of short to medium term debt and money market securities.
Asset Allocation: The fund will invest up to 40%-100% in debt and money market securities with maturity less than equal to 370 days or have put options within a period not exceeding 370 days. It will have investment of 0-60% in debt instruments including government securities, corporate debt and other debt instruments with maturity greater than 370 days. Investment in securitised debt may be up to 75% of the net assets of the scheme.
Fund Opens: 29 February 2008
Fund Closes: 4 March 2008
Face Value: Rs 1000 per unit
Investment Options: The scheme will have two-investment plans viz. retail plan and institutional plan with growth, bonus and dividend options under each plan. The dividend option under both plans will have the facility of monthly dividend payout and weekly and monthly dividend reinvestment.
Entry Load: No entry load will be charged during the new fund offer of the scheme.
Exit Load: The scheme may levy 0.25% an exit load on redemption of investment within 15 days under both the plans.
Minimum Investment Amount: The minimum investment amount under retail plan is Rs 1000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 lakh and in multiples of Re 1 thereafter.
Benchmark Index: CRISIL Short term Bond Index.
Fund Manager: Mr. Sandeep Bagla.
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