Deutsche Asset Management, the mutual fund arm of Deutsche Bank Group announced the launch of DWS Fixed Term Fund Series 67 ? a 398 days close ended Debt Fund.
The DWS Fixed Term Fund Series 67 is a fixed maturity plan offering investors the benefit of double indexation to get tax efficient returns, low interest rate sensitivity and low credit risk.
The fund opens for subscription on March 17, 2010 and closes on March 22, 2010. The objective of this fund is to generate regular income by investing in fixed income securities and money market instruments maturing on or before the maturity of the scheme. The fund has CRISIL Composite Bond Fund Index as the Benchmark Index for performance.
The unit offer price is Rs. 10 /- per unit during NFO period and no entry and exit load will be applicable to this fund. Investors can start investing with a minimum of Rs. 5,000 /- and in multiples of Rs. 1 /- thereafter. Under the scheme, two investment options are available ? Growth and Dividend Payout. The fund would invest in Domestic Debt Instruments including Government Securities, Money Market Instruments and Securitized Debt. The DWS Fixed Term Fund Series 67 would be listed on the National Stock Exchange (NSE). The investments would be locked in for the scheme?s tenure; however, the units held in dematerialized form can be traded on the stock exchange(s).
Speaking about the product, Avnish Jain, Head?Fixed Income, Deutsche Asset Management (India) and fund manager of the product said ?Fixed Maturity Plans are ideal for investors looking at a relatively stable return over the medium term. This product is a relatively low risk and stable investment option, coupled with better post tax yields.?