Morgan Stanley Mutual Fund launches open-ended liquid scheme

MUMBAI: Morgan Stanley today announced the launch of Morgan Stanley Liquid Fund, an open-ended liquid mutual fund. The investment objective of the scheme is to provide returns, commensurate with low risk and high liquidity through a portfolio of money market and short-term debt securities with residual maturity of up to 91 days.

The fund will be benchmarked against the CRISIL Liquid Fund Index and will be managed by Ritesh Jain, Head of Fixed Income and Lead Portfolio Manager at Morgan Stanley Mutual Fund (MSMF).

The new fund offer will be priced at Rs 1,000 per unit and will open for subscription from September 6 to September 7. Repurchase will be opened from September 9, 2011.

Anthony Heredia, CEO, Morgan Stanley Mutual Fund, said: "The launch of our liquid fund will give us the platform required to access the institutional client segment, which is a core long term focus for MSMF."