Standard Chartered Mutual Fund has launched an actively managed open-end debt fund christened Grindlays Dynamic Bond Fund. It will initially be open for subscription for one day on June 25, 2002. However, the fund will again re-open for continuous sale and repurchase from June 26, 2002 onwards.
The fund will actively manage its portfolio in line with the evolving interest rate scenario. It has a primary objective of insulating returns from interest rate volatility. The entire corpus will be invested in highly liquid long-term bonds (mainly government securities) and the money market instruments.
The fund offers Growth and Dividend (Quarterly and Annual) options. Entry into and exit from the fund is on a no-load basis. Minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.