Mumbai: BNP Paribas Mutual Fund Wednesday said it has launched an open-ended debt scheme 'BNP paribas Government Securities Fund'.
The new fund offer will open for subscription from April 18 and will close on April 29, 2013, a company statement said.
"This may be an opportune time to invest in BNP Paribas Government Securities Fund with the government aggressively trying to address the twin deficit issue leading to a continued trend of reduction in interest rates," Managing Director & Chief Executive Officer of BNP Paribas Asset Management Nikhil Johri said.
The new fund will invest in government securities issued by Central and state governments, the company said.
The fund house is part of the global network of BNP Paribas Investment Partners and currently manages assets of over Rs 3,700 crore by the end of last fiscal in the country.