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Union AMC has launched the Union Medium Duration Fund, an open-ended medium-term debt scheme investing in units such that the macaulay size of the portfolio is between three to four years. The New Fund Offer (NFO) opens on August 24 and closes on September 7.
The Scheme is benchmarked in opposition to CRISIL Medium Term Debt Index. It might be managed by Parijat Agrawal and Anindya Sarkar. The minimal funding required is ₹5,000 and in multiples of ₹1 thereafter.
The allotment of fashions beneath Union Medium Duration Fund will happen on September 14 and it will re-open for regular sale and repurchase on September 21.
G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management talked about “The launch of Union Medium Duration Fund is a step within the course of bridging the outlet throughout the mounted income debt scheme selections from our agency. The portfolio improvement of this scheme is aimed to be carried out with a prudent combination of strategic allocation to PSU/Corporate bonds of extreme credit score rating prime quality and a tactical allocation to securities issued by Government of India.”
Pradeepkumar added, “In recent times, the interest rates on short term securities have come down considerably but the rates on longer term securities are still at an elevated level. The spread between yields of short term and long term securities has widened and is at a level above their long term average. In future, as this gap narrows, the yields of long term securities are expected to fall resulting in gains for investors. The portfolio construction of this scheme would be guided by our robust fixed income investment process.”
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