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Standard Chartered MF launches new debt product

Mutual funds upbeat on growth through tie-ups, new products

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Our Regional Bureau Hyderabad
Standard Chartered Mutual Fund (SCMF), a 100 per cent debt focussed fund house, yesterday announced the launch of an initial public offer (IPO) for its All Seasons Bond Fund (SCASBF). The public issue which opened for subscription from August 9 will close on August 27, 2004.
 
Addressing a press conference, Rajiv Anand, head (investments) of Standard Chartered Mutual Fund, said: "The SCASBF is a product for all interest rate conditions. The fund asset will invest in units of 100 per cent debt oriented mutual fund schemes that are best suited for that interest rate trend."
 
According to him, SCASBF was ideal for those investors who did not have the time or the ability to actively track their investments to get optional returns. "The SCASBF by proactively switching among the various type of debt funds will attempt to generate optimal returns in all interest rate conditions,"Anand said.
 
The SCASBF is an open-ended fund of funds scheme with an investment objective to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments.
 
The scheme is available in two plans, Plan A, with a minimum investment of Rs 500, which is a regular plan for all types of investors and Plan B, an institutional plan, with a minimum investment of Rs 1 crore, for non-individuals. Both the plans offer quarterly half yearly and annual dividend plans options.
 
Standard Chartered Mutual Fund has recently introduced a phone transaction facility for its customers apart from earlier initiatives like same day redemption for cash funds and the next day redemption for income funds.
 
The company has Rs 9,608 crore in assets under management as on July 31, 2004 across 13 debt schemes.

 
 

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First Published: Aug 12 2004 | 12:00 AM IST

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