Jio BlackRock Mutual Fund on Monday launched its first set of mutual fund offerings, introducing three open-ended debt schemes — JioBlackRock Money Market Fund, JioBlackRock Liquid Fund, and JioBlackRock Overnight Fund. The New Fund Offer for all three funds will remain open until July 2.
In May, the joint venture between Mukesh Ambani-backed Jio Financial Services Ltd. and US private equity major BlackRock received market regulator SEBI's final nod to start its mutual fund business.
An open ended fund is a scheme that is open for buying and selling at any time.
The minimum investment amount for all three Jio BlackRock NFOs is Rs 500. Investors can subscribe to the schemes via the fund's platform or participating distributors like Zerodha during the NFO period.
JioBlackRock Liquid Fund
The JioBlackRock Liquid Fund is designed for investors seeking regular income over a short-term investment horizon. It aims to generate regular income through investment in a portfolio comprising of money market and debt instruments with residual maturity up to 91 days, as per the scheme document.
The scheme carries a graded exit load, starting at 0.0070% on day 1 and reducing to zero from day 7 onwards.
There is no exit load.
Risk-o-meter of the scheme: Low to moderate risk.
JioBlackRock Money Market Fund
JioBlackRock Money Market Fund aims to generate regular income through investment in a portfolio comprising of money market instruments with residual maturity up to one year.
Money market funds are positioned as a stable option for those looking to invest for slightly longer durations within the low-risk spectrum.
There is no exit load.
Risk-o-meter of the scheme: Low to moderate risk.
JioBlackRock Overnight Fund
The JioBlackRock Overnight Fund seeks to generate income through investments in debt and money market instruments with overnight maturity. This fund is suited for investors looking to park funds for a day or more with minimal interest rate risk.
There is no exit load.
Risk-o-meter of the scheme: Low risk.
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