Birla Mutual Fund has introduced fresh options in its series of Fixed Maturity Plans. Apart from recently launched Quarterly Plan (Group 1), it has now come up with Quarterly Plan (Group 2), Half-Yearly Plan (Group 1) and Long Term Plan (Group A). All the above are open-end income schemes.
The Quarterly and Half-Yearly Plans will be open for subscription from November 6, 2001 to November 19, 2001, whereas for Long Term Plan, it will be from November 19, 2001 to November 30, 2001.
Minimum subscription for the Quarterly and Half-Yearly Plan will be for Rs 1,00,000 and in multiples of Rs. 10,000 thereafter, and for Long Term Plan, it will be for Rs 25,000 and in multiples of Rs 10,000 thereafter at an issue price of Rs 10 per unit.
The objective of all the above schemes is to generate income through investments in debt and money market instruments including derivatives. There is no entry load for all the schemes but has an exit load of 1% in Quarterly Plan, 2% (No load between 8th and 15th March 2002) in Half-Yearly Plan and 4% in Long Term Plan.
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