Bajaj Finserv Mutual Fund has announced the launch of Bajaj Finserv Banking and PSU Fund, an open-ended debt scheme investing in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds with relatively high interest rate risk and moderate credit risk.
New Fund Offer of the scheme is open and it will close on November 6.
The fund will be jointly managed by Siddharth Chaudhary, Senior Fund Manager- Fixed Income and Nimesh Chandan, CIO.
“The fund would maintain high credit quality and the allocation would comprise 80% in high credit quality bonds of banks and PSU companies and 20% in sovereign and other high credit quality bonds,” said Nimesh Chandan, CIO, Bajaj Finserv Mutual Fund.
“This scheme is suitable for investors who want relatively stable investment options for their capital. Investors who are interested in diversifying their portfolio across various debt investments apart from other traditional banking products, may also find this fund an attractive proposition,” said Ganesh Mohan, CEO, Bajaj Finserv Mutual Fund.
