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IDBI-Principal Re-launches FMP Under Deposit Plan


IDBI-PRINCIPAL Mutual Fund has re-launched two Fixed Maturity Plans under its Deposit Fund. It will now have two schemes namely a 91-day plan and a 371-day plan for investors. Both schemes are open for subscription on March 26 and March 27, 2002. The fund will invest in high quality debt and money market instruments. Both schemes offer dividend and growth option. . The minimum investment amount is Rs 5000 for each FMP in the Deposit Fund

Redemption of units on the fixed maturity date will be at the NAV and without any exit load. However, the 91-day scheme will carry a 1 per cent exit load for redemption prior to maturity, while the 371 days scheme will carry an exit load of 1.90 per cent for redemption on or before 182 days and 1.60 per cent for redemption after 182 days but before maturity.