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The scheme aims to generate regular income by investing in different types of floating rate debt/money market instruments. It may invest a portion of its money in fixed rate debt securities and money market instruments too.
SIP : Systematic Investment Plan - Available Online & Offline for Direct & Regular investors to iron out intermittent market volatility and enable long term savings
STP : Systematic Transfer Plan (STP) allows investors to save in both asset classes by transfering a fixed amount from one scheme and invest in another scheme
SWP : Systematic Withdrawal Plan allows investors to withdraw a fixed amount of money from their mutual fund to build sustainable income streams while saving on Tax also
CATP : Capital Appreciation Transfer Plan (CATP) allows investors to preserve their capital and transfer only capital appreciation to another asset class / scheme at regular intervals
Total Experience : 14 years
Floating Rate Fund maintains a portfolio having an average maturity of upto 10 years. The portfolio is normally skewed towards longer term maturities. However, it seeks to achieve returns for its investors in the short term. This it does by balancing risk and volatility. The superior credit quality of the portfolio along with active management of its duration generates higher average returns.
The aim of the investment manager will be to allocate the assets of the scheme between various fixed interest rate securities and floating interest rate securities with the objective of achieving stable returns and minimise risk. The portfolio of the Long Term Plan will be normally skewed towards longer term maturities. Fixed interest rate securities are subjected to volatility in price movements corresponding to movements in interest rates. However, the interest rate in case of floating rate securities is reset in regular time intervals based on certain benchmark or a reference rate (eg. NSE Mibor). Hence the prices of these securities are less sensitive to interest rate fluctuation leading to minimal interest rate risk. In the absence of floating rate securities, the same can be created synthetically with a combination of derivatives like Interest Rate Swaps and FRAs and fixed interest rate securities.
An open ended debt scheme predominantly investing in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps / derivatives)
*We recommend investors to consult their financial advisers in case of doubt about whether the product is suitable for them.
For further details on the Scheme, refer Scheme Information Document and Key Information Memorandum.