Trust AM to Launch Indian MMF
A story entitled, "Trust Asset Management to launch a money market fund," posted on Indian website LiveMint, explains, "Trust Asset Management has announced the launch of its new fund offer (NFO), TrustMF Money Market Fund, which aims to benefit from the steepness in the money market yield curve and provides an avenue for parking short-term surplus with relatively low-interest rate risk." It explains, "The NFO for the open-ended debt scheme investing in money market securities will open for subscription on 5 August and close on 11 August. The scheme will be managed by Anand Nevatia, fund manager, Trust Mutual Fund. This is the fifth addition to Trust Mutual Fund's fixed income product portfolio." Trust Mutual Fund CEO Sandeep Bagla comments, "We continue to focus on our key ethos of providing credible investment solutions to our investors. The aim of the fund is to take advantage of the money market yield curve, which has seen perennial steepness. In these uncertain times, money market mutual funds will provide relative stability and reasonable returns to investors looking to park their surplus money for three to six months investment horizon." They also quote Anand Nevatia of the TRUST Mutual Fund, "The change in stance from RBI (Reserve Bank of India) followed by a series of rate hikes, has resulted in abnormal steepness in the money market yield curve, particularly in overnight to six-month curve." The brief adds, "The TrustMF Money Market Fund will look to invest predominantly in six months instruments of high quality issuers and let them roll down to take benefit of the steepness."
