Sun F&C Mutual Fund has introduced new monthly and quarterly plan under the existing series of FMP (Fixed Maturity Plan). FMPs are closed end funds but investors can redeem their units before maturity by paying a certain exit load, which is comparatively higher.
Initial offer of the monthly FMP-2 (MFMP-2) under the monthly series will open on April 11, 2002 and will close on April 17, 2002 (both days inclusive). The fund will mature on May 22, 2002.
The quarterly FMP-2 (QFMP-2) under the quarterly series will be open for subscription from April 11 and April 17, 2002. The maturity date for the fund has been fixed as July 18, 2002.