BNP Paribas Overnight Fund NFO Announced

BNP Paribas Mutual Fund has announced a New Fund Offer (NFO) for BNP Paribas Overnight Fund. The NFO period begins on April 10, 2019 and will close on April 11, 2019. This open-ended scheme aims to generate income in the short term by investing in debt and money market instruments maturing in 1 business day

Asset Allocation of BNP Paribas Overnight Fund

Under normal circumstances, the scheme will invest its assets in the following manner:

The scheme will not invest in the following:

1. Derivative instruments and securitised debt.
2. Foreign securities including foreign securitised debt.
3. Equity, equity related securities and foreign equity securities including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).
4. Short selling and securities lending and borrowing.
5. Credit Default Swaps (CDS) for Corporate Bonds.

However, the scheme may enter into repos/reverse repos as may be permitted by RBI other than repo in corporate debt securities.

Benchmark of BNP Paribas Overnight Fund

The performance of BNP Paribas Overnight Fund will be benchmarked against CRISIL Overnight Index. The index is an appropriate benchmark for the scheme as it tracks the performance of a money market portfolio with a 100% allocation to Tri-party repos (TREPs). The return details of the scheme are as follows:

(Data as on March 31, 2019; Source: CRISIL)

Fund Managers of BNP Paribas Overnight Fund

BNP Paribas Overnight Fund will be jointly managed by Mr. Vikram Pamnani and Mr. Mayank

Prakash. Other schemes jointly managed by the duo include BNP Paribas Liquid Fund and BNP Paribas Short Term Fund. The return details of these two schemes are as follows:

(The returns are for the direct variant of the schemes as on March 31, 2019; Source: Value Research)

Key information about BNP Paribas Overnight Fund NFO