Sahara Mutual files papers for fixed maturity plan
Sahara Mutual Fund has filed papers with SEBI for a fixed maturity plan.
By INDIATIMES NEWS NETWORK |
MUMBAI: Sahara Mutual Fund has filed papers with Securities and Exchange Board of India for a fixed maturity plan. This close ended scheme, with no assured returns, will invest in debt and money market securities, maturing in line with the scheme.
The scheme will have plans of varying duration-3 months (Series 2 and 3) and 395 days (Series 2, 3 and 4). Similar plans with different time horizons may be launched in future. Each plan will maintain a separate portfolio.
Each plan offers dividend and growth options. Investors can invest minimum Rs 5,000 and in multiples of Re 1 thereafter in both dividend and growth options.
The fund will not charge any entry load. Under Sahara FMP-3 months (Series 2, 3 & 4), redemption within one month from allotment will attract exit load of 2%. If redeemed after one month but before two months from allotment, 1.50% exit load will be levied. An exit load of 1% will be charged for redemption from two months to one day before maturity.
Under Sahara FMP-395 days (Series 2 & 3), an exit load of 2% will be charged for redemption before six months from date of allotment. If redeemed after six months but before nine months from allotment, 1.50% load will be charged. Redemption after nine months of allotment to 1 day before maturity will attract 1%.
The three months plan (Series 2, 3 & 4) will track CRISIL Liquid Fund Index and FMP-395 days (Series 2 & 3) will track CRISIL Short Term Bond Index.
Investors are allowed to alter the allocation of their investments amongst schemes offered by the mutual fund, in order to meet their changing investment needs or risk profiles.
The scheme will have plans of varying duration-3 months (Series 2 and 3) and 395 days (Series 2, 3 and 4). Similar plans with different time horizons may be launched in future. Each plan will maintain a separate portfolio.
Each plan offers dividend and growth options. Investors can invest minimum Rs 5,000 and in multiples of Re 1 thereafter in both dividend and growth options.
The fund will not charge any entry load. Under Sahara FMP-3 months (Series 2, 3 & 4), redemption within one month from allotment will attract exit load of 2%. If redeemed after one month but before two months from allotment, 1.50% exit load will be levied. An exit load of 1% will be charged for redemption from two months to one day before maturity.
Under Sahara FMP-395 days (Series 2 & 3), an exit load of 2% will be charged for redemption before six months from date of allotment. If redeemed after six months but before nine months from allotment, 1.50% load will be charged. Redemption after nine months of allotment to 1 day before maturity will attract 1%.
The three months plan (Series 2, 3 & 4) will track CRISIL Liquid Fund Index and FMP-395 days (Series 2 & 3) will track CRISIL Short Term Bond Index.
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Investors are allowed to alter the allocation of their investments amongst schemes offered by the mutual fund, in order to meet their changing investment needs or risk profiles.
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