Canbank Mutual Fund has introduced an Institutional Plan under its ultra-short term debt scheme - Canliquid. The initial offer will be open for one day on May 31, 2004.
The Institutional Plan offers two investment options - daily dividend reinvestment option and growth option. The minimum amount required to invest in the fund is Rs 50 lakh.
The annual recurring expenses chargeable under the plan have been capped at 0.5 per cent of per annum average net assets. Both the retail fund (the existing Canliquid scheme) and the institutional fund will maintain a common portfolio.