Monarch Mutual Fund, a venture of Monarch Networth Capital that received in-principle approval from Sebi earlier this year to commence mutual fund operations in India, has filed a draft document with the market regulator for its maiden scheme, an overnight fund.
According to the draft filed with the market regulator, Monarch Overnight Fund will be an open-ended debt scheme investing in overnight securities with a relatively low-interest rate risk and relatively low credit risk.
