Sahara Mutual launches short term bond fund

MUMBAI: Sahara Mutual Fund on Thursday launched Sahara Short Term Bond Fund, which is an open ended income fund. The new fund offer opens on March 12 and will close on April 8.

During the NFO period, the units of Sahara Short Term Bond Fund are available for subscription at Rs 10 per unit. There is no entry load.

Commenting on the launch Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund said, ���this fund offers better opportunity to earn attractive returns besides having relative tax advantages.���

The investment objective is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Up to 100% of the total assets will be invested in debt instruments including government securities, corporate debt, other debt instruments and money Market instruments with maturity up to 12 months.

The benchmark index for ���Sahara Short Term Bond Fund��� is CRISIL Liquid fund index.

���The scheme offers attractive investment opportunity with low to medium risk profile and instant liquidity to investor at all time,��� added Garg.

There is no entry load. Under the scheme one can opt for dividend reinvestment option or growth option.