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Pioneer ITI Mutual Plans to Launch Gilt Fund


Pioneer ITI Mutual Fund plans to launch an open-ended Gilt Fund. The fund's IPO will open for subscription from November 26, 2001 to December 7, 2001 at an issue price of Rs 10 per unit. The fund aims to provide steady returns by investing at least 70 per cent of the assets in government securities and the balance in the money market instruments. Investors have the option of investing in the Liquid Plan, Investment Plan and Specific Maturity Plan.

Liquid Plan is ideal for short-term investments and offers a choice of Monthly Dividend Option (minimum investment Rs 25,000) and Growth Option (minimum investment Rs 5,000). The average maturity of the securities in the plan will be less then 3 years.

Investment Plan is suitable for long-term investments and offers a choice of Quarterly Dividend Option (minimum Rs 25,000) and Growth Option (minimum Rs 5,000). The average maturity of the securities in the plan will be over 3 years.

Specific Maturity Plan comprises of three sub-plans depending on the maturity periods – Short Term (upto 6 months), Medium Term (upto 13 months) and Long Term (upto 25 months). Investors have the choice of investing in the Growth Option and Dividend Option under each sub-plan.