Sundaram BNP Paribas Mutual Fund has announced the launch of Sundaram BNP Paribas Monthly Income Plan (MIP) – Aggressive and Conservative plans.
This is an open-ended fund.
For the Aggressive plan, the fund would invest up to 100 per cent in government securities, debt securities and money market instruments, up to 30 per cent in equity and equity related securities and up to 70 per cent in securitized debt.
For the Conservative plan, the fund would invest up to 100 per cent in government securities and debt securities and money market instruments, up to 10 per cent in equity and equity-related securities and up to 75 per cent in securitized debt.
Both the growth and dividend payout options are available. Dividend reinvestment will be on monthly, quarterly and half yearly basis. The default option is monthly dividend payout.
The fund would be managed by K. Ramkumar (for debt portfolio) and Satish Ramanathan (for equity portfolio).
The fund has been benchmarked against CRISIL MIP Blended Index.
The New Fund Offer (NFO) opened on January 25, 2010 and closes on February 23, 2010.
The minimum application amount would be Rs 5,000.
One per cent exit load would be applicable if redeemed within one year.