Morgan Stanley Mutual Fund on 18 July 2013 announced that it was launching the open-ended debt fund known as Morgan Stanley Ultra Short-term Fund.
The primary investment objective of this fund is basically to facilitate liquidity. The objective of the fund is also generation of the reasonable returns from short term debt instruments as well as the portfolio of the money market.
The new fund offer was opened for the purpose of subscription from 17 July 2013 and will be closed on 24 July 2013. Also, it will open for repurchase from 29 July 2013. The Morgan Stanley Ultra Short-term Fund is said to be a benchmark against the Crisil Liquid Fund Index.
It is important to note that this fund has been launched when there is high pressure of redemption on the short-term debt funds after the announcement of RBI in order to squeeze the liquidity from system in order to bring stability in national currency.
When: 18 July 2013