The investment objective o f the scheme is to generate returns corresponding to the total returns of the securities as represented by the CRISIL-IBX AAA Financial Services Index - Sep 2027 before expenses, subject to tracking errors. The Scheme does not guarantee/indicate any returns. There is no assurance or guarantee that the investment objective of the Scheme will be achieved.
The Scheme is a passively managed Index. The Scheme will replicate income over the target maturity Period of its underlying index i.e. CRISIL-IBX AAA Financial Services Index-Sep 2027, subject to tracki errors. The Scheme will invest at least 95% of its total assets in the securities comprising the Underlying Index. Accordingly, the Scheme will invest in securities in line with the benchmark index of The Scheme : The duration of the portfolio of the Scheme replicates the duration of the underlying index within a maximum permissible deviation of +/-10%. The following norms for permissible deviation in duration shall apply: For portfolio with residual maturity of greater than 5 years: Either +/-6 months or +/-10% of duration, whichever is higher. For a portfolio with residual maturity of upto 5 years: Either +/-3 months or +/-10% of duration, whichever is higher. However, at no point of time, the residual maturity of any security forming part of the portfolio shall be beyond the target maturity date of the Scheme. The Scheme will also invest in money market instruments in line with the asset allocation defined.
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