Zurich India High Interest Fund (ZIHF) has introduced series of open-end Fixed Maturity Plan (FMP). The offer for quarterly plan of " Zurich India High Interest-Fixed Maturity ZuriPlan " closed on June 20, 2001 and will mature in September 2001.In addition to quarterly plan, the Fund in future will be offering a series of half-yearly and yearly plans as well.
While the Zurich India High Interest strives to earn regular income by investing in debt instruments with varying maturity, the ZIHF-Fixed Maturity ZuriPlans will invest in debt instruments which mature in line with the maturity of the specific plans. This kind of an investment charter tends to yield returns free from any kind of interest rate volatility. With its fixed maturity feature, the plan will suit investors having a specific investment horizon.
The minimum investment in the plan is pegged at Rs 10,000 and in multiples of Rs 1000 thereof. While, the fund will not attract an entry load, any redemption before the maturity of the plan would attract a load of 6 per cent. The NAV of the ZuriPlan-Quarterly option will be declared on a weekly basis.