HDFC Mutual Fund has launched a 382-day closed-end income scheme called FIP (Fixed Investment Plan) June 2002 (1). It will mature on June 30, 2003. The plan will open for subscription from June 10 to June 13, 2002. Initial issue expense will be borne by the AMC. However, an exit load of 1 per cent will be charged if redeemed before maturity. The minimum amount for application is Rs 25,000 and in multiples of 1,000 thereof. The plan offers both Growth and Dividend option.
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