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Sun F&C Launches Fixed Maturity Plans

Sun F&C Mutual Fund has extended its debt family with the launch of its first fixed maturity product. The scheme currently offers three sets of Fixed Maturity Plans (FMPs) -- Monthly, Quarterly and Yearly Series. It will be initially open for subscription from February 21, 2002 to February 27, 2002. The earliest closing date will be February 25, 2002.

The FMPs in its various series will invest in a portfolio of government securities, high quality debt and money market instruments. Each plan offers Growth and Dividend options. The minimum investment amount is Rs 25,000 for each FMP under the series with additional investments in multiples of Re 1.

Post launch, each FMP will have a fixed maturity and redemption dates, and fixed subscription periods of up to seven business days, during which investors could purchase units from the scheme. Redemption of units on the fixed maturity date will be at the NAV and without any exit load. After the closure of the fixed subscription period -- a minimum of seven calendar days -- the FMPs will be closed for purchase of units till the commencement of the next fixed subscription period.