Union KBC Mutual Fund is unveiling an open ended debt scheme, India Infoline reports. The Union KBC Ultra Short Term Debt Fund offers a growth and dividend option. The performance of the fund will be benchmarked against the CRISIL Liquid Fund Index.
Devesh Thacker will take charge of the new vehicle. The fund will allocate 80-100% of assets in money market and debt instruments maturing within one year and invest 20% in debt instruments maturing between one and three years.
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