Edelweiss Mutual Fund files offer document for Fixed Maturity Plans – Series 55 to 56

Edelweiss Mutual Fund has filed offer document with SEBI to launch a close-ended income scheme named ‘Edelweiss Fixed Maturity Plans – Series 55 to 56’. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The scheme offers growth options and seeks to collect a Minimum Target Amount of Rs 20 crore.

The performance of the will be benchmarked by CRISIL Liquid Fund Index – If the macaulay duration of the scheme is upto 3 months; or CRISIL Low Duration Debt Fund Index – If the macaulay duration of the scheme is upto 1 year; or CRISIL Short Term Bond Fund Index – If the macaulay duration of the scheme is between 1 year to 3 years; or CRISIL Composite Bond Fund Index – If the macaulay duration of the scheme is between 3 years to 7 years; or CRISIL Long Term Bond Fund Index – If the macaulay duration of the scheme is above 7 years. The minimum application amount for initial purchase is Rs 5000 and in multiples of Rs 10 thereafter.

The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the Scheme.