Birla Mutual Fund has launched "1-Year Plan Group 1" and "Long Term Plan Group B, C, D and E" under its Fixed Maturity Plan (FMP). The fund seeks to generate income from a portfolio of debt and money market instruments including derivatives generally maturing in line with the time profile of the respective plans.
1-Year Plan Group 1 will be open for subscription from December 19 to December 21, 2001. It has a maturity period of 379 days.
Subscription for Long Term Plan B will open on December 24, 2001 and closes on December 28, 2001. The fund will mature on April 30, 2003.
Subscription dates for other Long Term Plans are as follows: Long Term Plan Group C - From January 28 to January 31, 2002. Long Term Plan Group D - From February 25 to February 28, 2002. Long Term Plan Group E - From March 25 to March 28, 2002.
Entry into any of the above mentioned funds is on a no-load basis but the respective fund charges an exit load of 4 per cent. Minimum subscription will be of Rs 25,000 and in multiples of Rs 10,000 thereafter for all the plans.
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