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Canbank Mutual plans to launch Canliquid Fund


Canbank Mutual Fund has planned to launch a cash fund - Canliquid Fund. The fund's initial offer will open on January 10, 2002 and closes on January 11, 2002. The fund will re-open for continuous sale/repurchase from January 16, 2002 at NAV-related price. 65 to 100 per cent of the fund collected will be invested in money market instruments and the balance in debt securities. The plan offers Growth and Dividend Reinvestment Option (Weekly). Minimum investment is of Rs 25,000 under both options. There is no entry/exit load in the fund.

The fund is ideally suited for short-term investors having investment horizon of 3 to 6 months.