GIC Liquid Fund has reduced the minimum investment amount to Rs 5,000 under the Growth option. Earlier, it was Rs 25,000.
The fund has also reduced the minimum redemption amount to Re 1 and in multiples thereof as against Rs 10,000 earlier.
Under its weekly dividend reinvestment plan, the surplus generated will be retained in the plan without distributing any part of it by way of dividends until further review of the tax implications. Investors can redeem their units at any time at the applicable NAV without any exit load.
All the above changes will come into effect from April 01, 2002 onwards.