Deutsche Mutual Fund has set up a 372-day close-ended debt fund, India Infoline reports. The DWS Fixed Term Fund - Series 88, which has been priced at $0.22 per unit, will invest in domestic debt instruments maturing on or prior to its maturity date.
Kumaresh Ramakrishnan will manage the fund, which offers growth and dividend option to the investors. The exposure to derivatives will be restricted to 50% of the net assets of the scheme, which is benchmarked against the Crisil Short Term Bond Fund Index.
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