The Business Bytes
TBB BUREAU
BHUBANESWAR, SEPT 26, 2022
Samco Mutual Fund on Monday launched a systematic transfer plan (STP), called ‘Timer STP’, and a debt fund, named Overnight Fund, whose new fund offers (NFOs) will run from October 4 to 6.
The minimum subscription amount for the Timer STP is Rs 25,000, paid weekly, monthly, and quarterly. Explaining the scheme, Umeshkumar Mehta, the CIO of Samco Asset Management, said the ‘Timer STP’ uses Samco’s proprietary ‘Equity Margin of Safety Index (EMOSI) Indicator’, and EMOSI’s value would be updated daily on the Samco website.
Mehta said, “With Timer STP, we are enabling an average investor to avoid entering the markets at the wrong time and sail through the market cycles efficiently.”
The SAMCO Overnight Fund will invest in short-term debt papers. The NFO will remain open from October 4 to October 6. The minimum investment amount is Rs 500, with no exit load.
