Motilal Oswal Asset Management Co.’s Motilal Oswal Mutual Fund will be rolling out an open-ended gilt fund, Financial Chronicle reports. The Motilal Oswal MOSt 10 Year Gilt Fund will be India’s first vehicle providing access to the 10-year benchmark government of India securities by investing 90 percent to 100 percent in them.
The scheme will mirror the risk and returns on the 10-year benchmark government securities, currently yielding 8.79 percent and due in 2021. The fund, managed by Abhiroop Mukherjee, will be open for subscription from November 21 to December 5, adds India Infoline.
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