Canara Robeco Mutual Fund has decided to revise its key features under its scheme, Canara Robeco Floating Rate Fund. The changes will be effective from 01st July, 2010. The scheme nature will be changed to open ended debt scheme from open ended cash management scheme. The revised investment objective is to generate income by investing in a portfolio comprising of short term debt instruments and money market instruments with weighted average portfolio duration of equal to or less than 1 year. The scheme will allocate 70 per cent to 100 per cent of assets in Indian Money Market Instruments. It would further allocate up to 30 per cent of assets in Indian debt securities (including securitised debt). Exposure by the fund in securitised debt shall not exceed 25 per cent of the net assets of scheme at the time of investment. Investors who do not agree to the revision, have an option to redeem or switch their units on or before 30th June, 2010 without paying any exit load.
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