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Principal MF Restructures Funds

Principal PNB Mutual Fund has restructured its Principal Child Benefit Fund, Monthly Income Plan and Monthly Income Plan – MIP Plus with effect from October 29, 2010.

The Child Benefit Plan would now be called Principal Conservative Growth Fund. The investment objective of the fund would be ‘to provide long-term capital appreciation and regular income by investing in equity and equity-related instruments and also in debt and money market instruments.’

The allocation to equity and equity related instruments in Principal Monthly Income Plan and Principal Monthly Income Plan – MIP Plus would now include allocation to units of equity mutual fund schemes.