Deutsche Mutual Fund has launched new fund offer period of DWS Fixed Term Fund Series 61 on 4 November 2008. The initial offering period will close for subscription on 6 November 2008. The offer of units is at face value of Rs 10 per unit.
It is a close-ended debt fund with maturity of 3 months, with an investment aim of generating regular income by investing in fixed income securities / money market instruments usually maturing in line with the time profile of the Fund.
The investors will have the choice of two plans viz. regular plan and institutional plan. Each plans offers growth and dividend option. The dividend option offers sub option of dividend payout.
The fund will invest 100% in domestic debt instruments including government securities & medium money market instruments and securitized debt including cash and cash equivalents. Investment in securitised debt would be up to a maximum of 100% of the net assets of the scheme.
The scheme will invest in derivatives only for the purpose of hedging and portfolio balancing and the exposure to derivatives shall be restricted to 50% of the net assets of the scheme. The scheme will not invest in foreign securities and foreign securitised debt.
There will no entry load charged for the scheme due to its close-ended structure.
The scheme charges an exit load of 2% if the investment is redeemed any time before maturity date. There will be no exit load charged on the redemption made on maturity date.
The minimum investment amount under regular plan will be Rs.5000 and in multiples of Re 1 thereafter. The minimum investment amount under institutional plan is Rs. 50 lakh and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked over CRISIL Composite Bond Fund Index. Mr. Dwijendra Srivastava will manage the scheme.
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