Baroda Mutual Fund has unveiled a new fund named as Baroda Fixed Maturity Plan - Series P, a close ended debt scheme. The tenure of the scheme is 1160 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 04 February 2019 to 12 February 2019.

The investment objective of the Scheme is to generate returns by investing in a portfolio comprising of debt instruments and money market instruments maturing on or before the maturity of the Scheme.

The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout facility.

The scheme will invest 70%-100% of assets in Domestic debt instruments and government securities with low to medium and invest upto 30% of assets in money market instruments with low risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.

Entry and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is CRISIL Composite Bond Fund index.

The fund manager of the scheme is Alok Sahoo and Hetal Shah.