ASK Mutual Fund, a prominent alternative investment firm, has submitted draft documents to the Securities and Exchange Board of India (SEBI) to launch its first liquid fund. The move comes after the company received regulatory approval earlier this year for other schemes.
The new ASK Liquid Fund will be an open‑ended scheme that focuses on debt and money‑market instruments with a residual maturity of up to 91 days. Its goal is to generate regular income for investors, although returns are not guaranteed.
According to the draft Scheme Information Document, the fund may allocate 0 % to 100 % of its assets to short‑term debt and money‑market securities. It can also invest in debt derivatives, securitized debt, corporate bond repos, credit default swaps, and units of other SEBI‑approved mutual funds.
The fund will be managed by Dinesh Ahuja, Head‑Fixed Income at ASK Mutual Fund. Mr. Ahuja brings experience from SBI Funds Management, where he served as CIO for PMS & AIF and managed fixed‑income funds.
Investors can start the new fund offer (NFO) with a minimum of Rs 500, and subsequent investments can be made in single‑rupee increments. The NFO launch date has not been announced yet, but the fund will reopen for continuous sale and repurchase within five business days after allotment.
The ASK Liquid Fund will benchmark its performance against the CRISIL Liquid Debt A‑I TRI index. The scheme offers a low‑risk, short‑term investment option for those seeking liquidity and modest income.