Deutsche Mutual Fund has rolled out new close-ended income scheme, Moneylife Personal Finance reports. The DWS Fixed Term Fund-Series 87 will invest in debt and money market instruments maturing on or before the date of the maturity of the scheme. The tenure of the scheme is 370 days.
The issue of the new scheme will be open for subscription from July 15 and close on July 27, 2011. The fund, to be managed by Kumaresh Ramkrishnan, will track the performance of the CRISIL Short Term Bond Index.
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