JioBlackRock gears up for third debt launch, files draft document of overnight fund with Sebi

JioBlackRock Overnight Fund will be an open ended debt scheme investing in overnight securities with a relatively low interest rate risk and relatively low credit risk.

The investment objective of the Scheme is to generate regular income through investment in a portfolio comprising debt and money market instruments with overnight maturity.

Also Read | JioBlackRock Asset Management receives SEBI approval to commence mutual funds business

The scheme will be benchmarked against NIFTY 1D Rate Index and will be managed by Arun Ramachandran, Vikrant Mehta, and Siddharth Deb. The scheme will offer only direct plans and the plan shall offer only growth options.

Live Events

The minimum application amount for lumpsum investment will be Rs 500 and any amount thereafter. The minimum amount for switch-in to the scheme will be Rs 500 and any amount thereafter. The minimum amount for Systematic Investment Plan (SIP) will be Rs 500 and in multiples of Re 1 thereafter.The scheme will invest 0-100% in overnight securities or debt and money market instruments maturing on or before next business day. The investment objective of the scheme is to generate returns by investing in debt and money market instruments with overnight maturity. The total assets of the scheme will be invested in debt securities and money market instruments maturing on or before next business day.The scheme will be suitable for investors who are seeking regular income over a short term that may be in line with overnight call rates and want investment in debt and money market instruments with overnight maturity.

Also Read | JioBlackRock Mutual Fund files draft documents with Sebi to launch its first 2 debt schemes

Two days before the fund house filed draft documents with Sebi for a money market fund and liquid fund.

Last month, the fund house shared the news that it has received Sebi’s approval to commence mutual fund business.

Earlier this week, the fund house announced the appointment of its executive leadership team and the launch of its website along with an exclusive early access initiative

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)