Sun F&C Mutual Fund has launched a unique open-end income fund christened Sun F&C Fixed Income Securities Fund, which includes an International Plan. The fund will initially open for subscription from May 23 and May 31, 2002. However, the earliest closing date is May 28, 2002.
International Plan will predominantly invest in debt securities of foreign countries, which have fully convertible currency and AAA sovereign rating. The fund can take advantage from the rupee depreciation.
Apart from International Plan, the fund also offers three domestic fixed income plans - Short-term Plan (average portfolio maturity of less than 1 year), Medium-term Plan (average portfolio maturity of 1-3 years) and Long-term Plan (average portfolio maturity of around 4 to 5 year). Each plan has growth and dividend option.
Entry into the fund is on a no-load basis. However, an exit load of 0.25 percent will be charged if redeemed within 30 days. Minimum investment amount is Rs 25,000 for each plan.