* Kotak Mahindra Mutual Fund has launched K-Bond Short-term Plan on Aprill 22, 2002. The scheme will be open for initial offer till May 2, 2002. The minimum investment amount is Rs 5000 and in multiples of Rs 1000 subsequently. The fund also offers a Systematic Investment Plan with at least five cheques of Rs 1000 each.
The fund aims to provide superior returns to the liquid fund, but not as high as a debt fund. The scheme would invest at least 50 percent of its assets in debt and money market instruments with maturity upto an year. K Bond Short-term is a no-load fund. It will offer both Growth & Dividend options. The dividends would be declared on a monthly basis under the Dividend Option.
Redemption proceeds and dividend payouts can be directly credited into the bank account through D-Kredit. D-Kredit is currently available for HDFC Bank, ABN AMRO Bank, Standard Chartered Grindlays Bank, Deutsche Bank, ICICI Bank & Global Trust Bank Account Holders only.
* IDBI-Principal Mutual Fund has introduced a Short Term Plan (STP) under the Income Fund. The fund
