Mahindra Mutual Fund, a wholly-owned subsidiary of Mahindra and Mahindra Financial Services Ltd, today launched an open-ended debt scheme to attract long-term investors. The scheme — Mahindra Credit Risk Yojana — will be predominantly investing in corporate bonds. The new fund offer will open on July 27 and close on August 10, Mahindra Mutual Fund Managing Director and CEO Ashutosh Bishnoi said in a statement.
The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment. “Mahindra Credit Risk Yojana provides investors an opportunity to participate in India’s growth story by investing in well diversified debt portfolio of fundamentally strong, high liquid and well-known companies,” Bishnoi said. The scheme offers an attractive long term investment opportunity, he added.
Pradeep Mehta, Secretary General of the Jaipur-based Consumer Unity and Trust Society (CUTS International), has been nominated as a member of the government’s think-tank to finalise the framework for a national policy on e-commerce. The think-tank is led by Commerce and Industry Minister Suresh Prabhu and comprises officials from ministries of finance, home affairs, corporate affairs, and electronics and information technology. “We have expertise and experience on issues considered by the think tank and can add immense value to the discussion”, Mehta said in a statement. CUTS International is an economic policy research firm.