At a time when interest rates across the most fixed income products have hit an all-time low with the 10-year benchmark free falling from 9-11 per cent in 2001 to 5.75 per cent levels now, Standard Chartered Mutual Fund (SCMF), a pure debt fund house, has announced a medium term plan, the Grindlays Super Saver Income Fund.
The fund gives the investors an opportunity to enter into 100 per cent debit mutual funds, with no investment in equities, through its 10-day IPO beginning June 16.
Rajiv Anand, the head (investments) of Standard Chartered Mutual Fund, told media persons here that with a minimum investment requirement of Rs 500, the fund was targeting retail investors.
