Pioneer ITI Mutual Fund has planned to launch a Short-term Income Fund. The fund will open for subscription from January 28 to January 31, 2002. The scheme will reopen for investments on an ongoing basis from February 4, 2002.
The scheme will predominantly invest in medium-term fixed income securities and will maintain the average maturity of the scheme between 4 and 12 months. The scheme offers a choice of growth and dividend options. Under the dividend option, investors can choose to receive their dividends on a weekly, monthly or quarterly basis. Minimum investment will be of Rs 1 lakh and in multiples of Rs.1000 thereafter. There is no entry/exit load in the fund.
The fund is suitable for investors having time horizon of 3-months to 1 year.