NFO Alert: Bank of India Mutual Fund Launches Bank of India Money Market Fund

The Bank of India Money Market Fund is an open-ended debt scheme focusing on investments in money market instruments. The fund’s New Fund Offer (NFO) opens on January 28, 2025, and closes on February 3, 2025.

Objective

The fund aims to generate returns for unitholders by investing in money market instruments. These instruments include treasury bills, commercial papers, certificates of deposit, and government securities with maturities of up to one year. 

While the objective is to provide reasonable liquidity and returns, there is no assurance that it will be achieved.

Plan Options

The fund offers two plans: the Regular Plan, designed for investments made through distributors, and the Direct Plan, available for direct investors. Both plans provide options such as Growth, IDCW Daily, IDCW Weekly, and IDCW Monthly.

Investment Details

The minimum initial investment for the Bank of India Money Market Fund is ₹5,000, with additional investments allowed in multiples of ₹1,000. The fund does not impose any exit load, providing flexibility for investors to redeem their units without incurring extra charges. This fund uses the CRISIL Money Market A-I Index as a benchmark.

The scheme is managed by Mr Mithraem Bharucha.

Risk Level

Classified under the debt category, this scheme falls specifically under the liquid funds sub-category, focusing on short-term money market instruments.  The fund carries a moderately low-risk rating, making it suitable for conservative investors or those looking for short-term debt investments.

All in all, the Bank of India Money Market Fund offers an option to invest in short-term money market instruments with daily NAV calculations and no exit load. Investors must review the scheme’s suitability based on their financial goals.

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.