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Cholamandalam Mutual Fund Launches A New Scheme

Cholamandalam Mutual Fund has launched an open-end equity fund - Cholamandalam Growth Fund on August 10, 2001. The initial offer closed on August 24, 2001. The minimum initial amount one can invest is Rs 5000 and subsequently Rs 1000. The fund is available at a 1% entry load during the intial offer. While on an ongoing basis, the fund would charge no entry load however an exit load of 2% would be charged for redemptions made within 1 year of investment. The fund offers a Cumulative and a Dividend Plan. The dividends under the Dividend Plan would be declared on a half yearly basis. The fund also offers facilitations like SIP and SWP. Under the Systematic Investment Plan an investor can invest a minimum of Rs 1000 and subsequently 6 cheques of Rs 500 each. The fund also offers a quartely SIP option wherein an investor can invest atleast 4 cheques of Rs 1500 each. Under the Systematic Withdrawal Plan, a minimum of Rs 1000 can be redeemed. The minimum balance to be maintained is Rs 5000.