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Bank of India Money Market Fund NFO opens today; check key features here

Bank of India Money Market Fund NFO opens today: Investment objective, risk level, minimum application amount, and exit load - here's all you need to know

Microfinance, mutual fund

Kumar Gaurav New Delhi

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Bank of India Money Market Fund: Bank of India Mutual Fund's new fund offering (NFO), Bank of India Money Market Fund, opens for public subscription today, January 28, 2025. The NFO is an open-ended debt scheme investing in money market instruments.   
Mithraem Bharucha serves as the Fund Manager for the Bank of India Money Market Fund.
 
According to the Scheme Information Document (SID), the investment objective is to generate returns with reasonable liquidity for the unitholders by investing in money market instruments. "There is no assurance that the investment objective of the Scheme will be achieved."  The minimum application amount during the NFO is Rs 5,000, with investments in multiples of Re 1 thereafter. The scheme carries relatively low interest rate risk and moderate credit risk.   Bank of India Money Market Fund NFO is set to close on February 3, 2025. While there is no entry load for the NFO, the exit load, as per the SID, is also nil for investors.
 
 
The performance of the Bank of India Money Market Fund will be benchmarked against the CRISIL Money Market A-1 Index. The CRISIL Money Market A-1 Index is designed to track the performance of money market funds.
 
As per the SID, the Scheme shall invest up to 100 per cent of the total assets in money market instruments with a maturity of up to one year. It retains the flexibility to invest in the entire range of money market instruments. Generally, money market instruments include commercial papers, commercial bills, treasury bills, government securities with an unexpired maturity of up to one year, call or notice money, certificates of deposit, usance bills, and any other similar instruments specified by the Reserve Bank of India from time to time.
 
Bank of India Money Market Fund: Should you invest?
The scheme is suitable for investors seeking regular income over the short to medium term. It is also ideal for those looking to invest in money market instruments with a maturity of up to one year, as outlined in the SID.
 

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First Published: Jan 28 2025 | 11:09 AM IST

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