DWS Investments, the retail mutual fund arm of the Deutsche Bank Group announced the launch of the DWS Fixed Term Fund Series 78 ? A 15 Months close ended Debt Fund.
The DWS Fixed Term Fund Series 78 is a fixed maturity plan offering investors the benefit of indexation to get tax efficient returns, relatively low interest rate sensitivity and low credit risk#.
The NFO for this fund opens for subscription on 4th January 2011 and closes on 17th January 2011. The objective of this close ended debt fund is to generate regular income by investing in debt securities and money market instruments maturing on or before the maturity of the fund.
The fund has CRISIL Short Term Bond Index as the Benchmark Index for performance. DWS Fixed Term Fund Series 78 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).
The unit offer price for fund is Rs. 10/- per unit during NFO period. No entry and exit load will be applicable for DWS Fixed Term Fund Series 78. An investor 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 for investors ? Growth and Dividend Payout.
The asset allocation pattern for the DWS Fixed Term Fund Series 78 is 100% investment in Domestic Debt Instruments including Government Securities, Money Market Instruments and Securitized Debt.
Speaking on the launch, Kumaresh Ramakrishnan, Fund Manager for DWS Fixed Term Fund Series 78, said, ?Liquidity continues to remain tight with banks borrowing, on an average, nearly Rs.1, 00,000 from RBI?s repo window. This is mainly on account of much lower deposit growth vis-?-vis credit growth, and large cash balances of government with the RBI.?
About DWS Investments:
DWS Investments is the mutual fund management division of Deutsche Asset Management, Deutsche Bank Group?s Asset Management Network. Since 1956, DWS Investments has pursued a consistent strategy: one that focuses on quality, innovation, performance and trust.