Standard Chartered Mutual Fund has extended its family of debt funds with the launch of a gilt fund christened Grindlays Government Securities Fund. The fund's initial offer will be open from February 21, to March 1, 2002. There is no entry or exit load in the fund.
The fund offers two sub-plans - Investment Plan and Short Term Plan.
Investment plan is suitable for long-term investors having an investment horizon of more than 6 months. Investors have a choice of Growth and Dividend options (annual, half-yearly and quarterly).
The short-term plan would address the needs of an investor who desires stable returns over a shorter tenure of say less than 6 months. This plan offers a choice between Growth and Dividend options (quarterly and monthly).
Both plans require a minimum investment of Rs 10,000 and in multiples of Rs 1 thereafter. Dividend reinvestment facility is also available.