Birla Mutual Fund has launched "1-Year Plan Group 1" and "Long Term Plan Group B, C, D and E" under its Fixed Maturity Plan (FMP). The fund seeks to generate income from a portfolio of debt and money market instruments including derivatives generally maturing in line with the time profile of the respective plans.
1-Year Plan Group 1 will be open for subscription from December 19 to December 21, 2001. It has a maturity period of 379 days. Subscription for Long Term Plan B will open on December 24, 2001 and closes on December 28, 2001. The fund will mature on April 30, 2003.
Subscription dates for other Long Term Plans are as follows:
Long Term Plan Group C - From January 28 to January 31, 2002.
Long Term Plan Group D - From February 25 to February 28, 2002.
Long Term Plan Group E - From March 25 to March 28, 2002.
Entry into any of the above mentioned schemes is on a no-load basis but there would be an exit load of 4 per cent if redeemed before maturity. Minimum subscription will be of Rs 25,000 and in multiples of Rs 10,000 thereafter for all the plans.
Sun F&C Money Value Fund has revised its investment pattern under both Liquid and Bond Option. Under Liquid Option, the fund will now invest a minimum of 75 per cent of its corpus in short-term debt instruments (including money market instruments) instead of 50 per cent, earlier and maximum exposure limit in long-term debt instruments has been reduced from 50 to 25 per cent.
Under Bond Option, the fund can now invest up to 100 per cent in long-term debt instruments and exposure in short-term debt instruments can vary between 0 to 100 per cent. The unit holders have the option of redeeming their units without any exit load till January 7, 2002.
Cangilt (PGS), an open-ended gilt fund has announced a quarterly dividend of 4 per cent (Rs 0.4 per unit). The record date for the same has been set as December 19, 2001. This is the eighth dividend since its launch in December 1999. Including the current declaration, the aggregate dividend paid by the fund stands at 23.25 per cent.
Sun F&C Value Fund has introuced an exit load of 1.5 per cent for redemption amount of upto Rs 2 lakhs, if redeemed within 3 months. And for redemption amount above this limit, no load will be charged. The above revised load structure has come into effect from December 14, 2001. Till date, the fund was a no-load fund.
