Bank of India Short Term Fund: Inactive Debt Scheme Details
By Market Desk
Explore the inactive Bank of India Short Term Fund Institutional-Growth. Learn about its past investment objectives, NAV, and financial specifics before it closed.
If you are exploring mutual fund options, it is important to know that the Bank of India Short Term Fund Institutional-Growth scheme is no longer active and does not accept new investments. This fund, launched by Bank of India Mutual Fund on December 18, 2008, aimed to generate reasonable returns through debt and money market instruments.
The fund’s Net Asset Value (NAV) was 15.08 as of December 17, 2014, before it became inactive. Its core strategy was to invest in various debt instruments, ensuring that no more than 70% of its portfolio would be allocated to securities with an average maturity exceeding 370 days.
Understanding the Fund’s Past Investment Structure
This scheme had specific entry and exit requirements for investors. The minimum initial investment was set at an substantial Rs. 1,00,00,000.00.
For those looking to add to their holdings, a minimum additional investment of Rs. 1,00,000.00 was required. If you preferred a systematic approach, the minimum SIP investment stood at Rs. 1,000.00.
An exit load of 0.50% applied if units were redeemed within 45 days of investment, a detail crucial for short-term liquidity planning.
Key Portfolio Holdings and Management
While comprehensive data on its performance, risk ratios, and full portfolio aggregates are not available for this particular fund, some of its debt holdings included instruments from notable entities.
These holdings featured investments in LIC Housing Finance Ltd, Bank Of Baroda, L&T Finance Ltd, GOI Securities, Canara Bank, Small Industries Devp Bank of India Ltd, Torrent Pharmaceuticals Ltd, and Indian Railway Finance Corporation Ltd.
The fund was managed by Neeraj Kumar since October 2012, with Ardhendu Bhattacharya also taking on management duties since December 2024.
Since the Bank of India Short Term Fund Institutional-Growth is no longer active, you cannot invest in it today. Always ensure you check the current status of any mutual fund scheme before making investment decisions.