IL&FS Mutual Fund has introduced monthly dividend (re-investment) plan in its Liquid Account. The plan's IPO will open on December 3, 2001 and close on the same day. It will reopen for NAV based sales / redemption within 3 business days from the close of the IPO. For new investors, the minimum initial investment is of Rs 10,000 and in multiples of Re 1 thereafter. Additional purchase of units by existing unit holders of growth and daily dividend option can be made for any amount in multiples of Re.1 subject to a minimum of Rs.1,000. It is a no load fund and the entire corpus will be invested in high-quality money market instruments, usually of 90-day duration.
