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Birla Mutua Fund Launches Fixed Maturity Plan

Birla Mutual Fund has launched a Fixed Maturity Plan, an open-ended income scheme. The scheme will be open for subscription on October 11, 2001 and closes on October 12, 2001. Minimum subscription will be for Rs. 1,00,000 and in multiples of Rs. 10,000 thereafter at an issue price of Rs. 10/- per unit. The objective of the scheme is to generate income through investments in debt and money instruments including derivatives. It is a quarterly plan with a maturity of 94 days from the close of subscription. Shortly, it will be launching the Half-Yearly, 1-Year and 3-Year plans. There is no entry load but has an exit load of 1%.