Religare Mutual Fund launched a new close ended debt scheme named “Fixed Maturity Plan - Series XVI - Plan A (368 days)”, with maturity of 368 days. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on September 20.

According to the offer document filed with SEBI, the entry load was nil while and exit load was not applicable, implying Units of Scheme will be listed on the Stock Exchange. The minimum application amount was Rs 5,000 and in multiple of Rs 10 thereafter. The two options available under the Plan of the Scheme viz. Growth and Dividend payout option only. The performance of the scheme will be standardized against CRISIL Short Term Bond Fund Index and Nitish Sikand will be the fund manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the Scheme, will be met. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. Hence, the scheme will allocate up to 100 per cent in debt instrument including money market instrument.