Deutsche Mutual Fund (MF) has unveiled a new fund named as DWS MF Hybrid Fixed Term Fund - Series 40, a close ended debt fund. The tenure of the scheme is 1100 days from the date of allotment of units.
The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit.
The new issue will be open for subscription from 23 June & closes on 7 July 2015.
The objective of the fund is to generate income by investing in fixed income securities maturing on or before the date of the maturity of the scheme and to generate capital appreciation by investing in equity & equity related instruments.
The scheme offers regular plan and direct plan.
The scheme would invest 45% - 95% of assets in debt and debt related instrument with low to medium risk profile, invest upto 30% of assets in money market instruments with low risk profile and invest 5% to 25% of assets in equity and equity related instruments including derivatives with high risk profile.
The minimum application amount is Rs. 5,000.
The fund seeks to collect a minimum subscription amount of Rs. 20 crore under the scheme during the NFO period.
Entry & exit load charge for the scheme will be nil.
Benchmark index for the scheme is CRISIL Debt Hybrid 75:25 Index.
The equity portion of the scheme will be managed by Akash Singhania and debt portion will be managed by Rakesh Suri.
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