Benchmark AMC unveils new fund

Benchmark Asset Management Company has launched India's first Split Capital Fund, which distributes credit risk between two classes of units to deliver different risk-return combinations as per the requirements of the investors.

The fund was jointly conceptualised with J M Morgan Stanley Fixed Income Pvt Ltd, which is also acting as the lead distributor for the product, company officials said.

The initial public offering for the fund will be opened from May 12 to May 26.

The Split Capital Fund distributes credit risk between two classes of units to deliver different risk-return combinations as per the requirements of the investors.

The preferred or Class A unit's form will be rated AAA (SO) by Fitch and will have predefined maturity value, which will be determined on the allotment date.