Union KBC has announced to launch its first debt fund -Union KBC Liquid Fund. It is an open ended liquid scheme. Overall, it will be second fund after Union KBC Equity Fund.
Investment objective and strategy: The objective of the scheme will be to provide reasonable returns commensurate with lower risk and high level of liquidity through a portfolio of money market and debt securities. As per the investment strategy, the Fund Manager may invest upto 100% in money market and debt instruments with maturities upto 91 days.
Fund Manager: Mr. Devesh Thacker will be the Fund Manager. He has done MBA (Finance) and has an overall work experience of 11 years in Fund Management and Banking Industry.
Fund House: Union KBC Asset Management is a joint-venture between Union Bank of India, a leading Nationalised Bank in India and KBC Asset Management, the asset manager of Belgium-based Bancassurer, KBC Group.
Union Bank of India has around 3,000 branches in the country with a customer base of about 3 crores. For this product, the fund house will be targeting the Union Bank customer base through its branch networks.
KBC Asset Management is mainly active in its home markets of Belgium and Central and Eastern Europe.
Basic Details:
NFO Opens: June 14, 2011
NFO Closes: June 14, 2011
NFO Price: Rs.10/-
Options: Growth and Dividend
Minimum Application Amount: Rs.5000
Exit Load: NIL
Benchmark: CRISIL Liquid Fund Index
Fund Manager: Mr. Devesh Thacker
