Union KBC Mutual Fund filed a close-ended capital protection oriented scheme named “Union KBC Capital Protection Oriented Fund – Series 2 & 3” with Securities Exchange Board of India (SEBI). The scheme has a maturity of 30 to 36 months. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit.
According to the offer document filed with SEBI, the entry load and exit load will be nil. The minimum application amount was Rs 5,000 and thereafter Re 1. The two options available under the Plan of the Scheme viz. Growth and Dividend payout option only. The scheme will be standardize against Crisil MIP Blended Fund Index and Ashish Ranawade and Parijat Agrawal will be the fund managers of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to seek capital protection on maturity by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments, will be met. Hence, the scheme will allocate 80 to 100 per cent in debt and money market instruments, while will allocate 0 to 20 per cent in equity and equity related instruments. |
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