CRISIL rates AAAf to AIG Liquid, Treasury Plus Term funds

MUMBAI: Rating agency CRISIL has assigned AAAf to AIG India Liquid Fund and AIG India Treasury Plus Fund. The rating indicates that the proposed portfolio holdings of AIG India Liquid Fund and AIG India Treasury Plus Fund provide very strong protection against losses from credit defaults.

The funds will be managed by AIG Global Asset Management Company (India).

AIG India Liquid Fund is an open ended liquid scheme, investing in a portfolio of money market securities and short term debt securities that offer low risk and high degree of liquidity. The purchase price is Rs 1,000 per unit.

The scheme will invest 0% to 100% in low to medium risk money market instruments and 0% to 100% in low to medium debt instruments having a maximum re-pricing tenor of one year. It offers Retail, Institutional, and Super Institutional plans, which again offer choice of options—Growth, Bonus, Dividend, Dividend Payout.

Minimum initial application under retail is Rs 25,000, under institutional Rs 1 crore, and Super Institutional Rs 10 crore.

AIG India Treasury Plus Fund is an open ended income scheme that seeks to generate optimal returns commensurate with low risk and high liquidity from a portfolio of high quality debt securities and money market securities. Purchase price is Rs 10 per unit.

The fund will invest 50% to 100% in debt instruments including government securities, corporate debt, and money market instruments with average maturity less than or equal to 12 months or have put options within a period not exceeding 12 months.

It will also invest 0% to 50% in debt instruments including government securities, corporate debt and other debt instruments with medium average maturity greater than 12 months.

The scheme offers Retail, Institutional, and Super Institutional plans, again having options—Growth, Bonus, Dividend, Dividend Payouts. Minimum initial application in retail is Rs 25,000, institutional Rs 1 crore and Super Institutional Rs crore.