I want to invest in Fixed Maturity Plans (FMPs) but none is on offer since the past 2-3 weeks. Alternatively, are liquid funds good to park the money till an FMP comes on offer?
- Vilas D. Virdhe
Of late, there has been a decrease in the number of FMPs coming on offer but they do keep coming. There were two FMPs in the month of April, none in the month of May and one in June. Recently, ICICI Prudential’s FMP Series 49-1Y Plan A was open from June 26, 2009 to June 29, 2009. However, if you want to park your funds till an FMP comes on offer, you can very well opt for a liquid fund. You can get better returns than a savings bank account and can also withdraw the money in T+1 day whenever you need to invest in an FMP.
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