Mumbai: Religare Mutual Fund on Monday said it has launched a fund scheme which would invest primarily in debt securities and money market instruments.
Religare ‘Credit Opportunities Fund’, an open ended income scheme, aims to beat its benchmark by investing in instruments that offer superior yield and would invest in short-term corporate bonds, Religare Enterprises said in a statement to the Bombay Stock Exchange (BSE).
Religare MF is a part of Religare Enterprises, which is a diversified financial services group.
The scheme, which closes on 25 August, offers retail and institutional plans.
“Credit markets have stabilised, liquidity is plentiful and with the gradual economic recovery the prospective rewards for taking credit risk across fixed income markets are attractive,” Religare MF CEO Saurabh Nanavati said.
The minimum application amount under offer is Rs5,000 for retail plan and Rs1 crore for institutional investors.
According to the company, no entry load will be charged on investments, however, an exit load of 0.25% would be applicable on investments redeemed on or before one month of allotment.