Mutual fund
Mukesh Ambani, the country's biggest businessman, has once again rocked the financial market. His company Geo Financial Services has launched a new mutual fund with Blackrock, named Jio Blackrock Overnight Fund. The new fund offer (NFO) of this fund has been opened to investors and can be invested by 2 July 2025. If you want regular income in short term with low risk, then this scheme can be a great opportunity for you.
What is Jio Blackrock Overnight Fund?
This is an open-ended date scheme, which invests in overnight securities or date and money market instruments, whose maturity is until the next business day. This means that this fund invests your money for just one day, due to which both the risk of interest and credit risk are very low. The purpose of this scheme is to give regular income to investors in short term, which can give returns according to overnight call rates.
Who can invest?
This fund is the best for those investors who want a short time, keeping their money safe with low risk. If you want to invest your extra cash somewhere for a day or two, then this scheme can be fit for you. The risk of investment in this fund is of low level, as is mentioned in its rhetorometer.
Minimum investment and details of SIP
In this scheme, you can start investing with minimum Rs 500. After this, you can invest as much as you want. If you want to choose a systematic investment plan (SIP), then you can also start minimum 500 rupees for a weekly, monthly or quarterly SIP, in which at least 6 installments are necessary. The good thing is that there is no exit load in this fund, that is, you can withdraw your money whenever you want.
Management and benchmark of funds
This fund will be handled by experienced fund managers like Arun Ramachandran, Vikrant Mehta and Siddharth Deb. Its benchmark Nifty is the 1D rate index, based on which its performance will be measured. The fund will invest its entire assets in date security and money market instruments with overnight maturity. If there are daily puts and call options in securities, then their maturity will also be till the next business day.
Disclaimer- This news has been written only for information. TV 9 Hindi does not recommend investing in any fund or stock. Be sure to consult expert before investment.
Source: www.tv9hindi.com
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