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Shriram Asset Management Company Limited (AMC) announced today that it will launch the Shriram Liquid Fund on November 4, 2024. The New Fund Offer (NFO) will close on November 8, 2024.
The open-ended liquid scheme aims to generate optimal returns with lower to moderate risk levels and high liquidity. It will invest in debt and money market instruments, maintaining an average maturity of up to 91 days.
Kartik L Jain, MD & CEO of Shriram AMC, stated that the fund offers a balanced mix of stability, liquidity, and returns potential. The fund will primarily invest in A1+ rated instruments, with a model allocation of 5 per cent in overnight papers, 25 per cent in Certificates of Deposits, 50 per cent in Commercial Papers, and 20 per cent in T-bills.
The minimum investment amount is Rs. 1000 for both lump sum and SIP options. The fund complements Shriram AMC’s existing short-term debt solutions, including the Shriram Overnight Fund and the recently launched Shriram Nifty 1D Rate Liquid ETF.
As of September 30, 2024, Shriram AMC’s assets under management stood at ₹736 crore.
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