Sun F&C Mutual Fund has introduced the fourth yearly series of FMP (Fixed Maturity Plan). The plan is open for subscription from June 20 to June 28, 2002. It will mature on July 10, 2002. Entry into the fund is on a no-load basis and the initial issue expenses will be borne by the AMC. However, an exit load of 3 percent would be charged if redeemed before maturity. The plan offers Growth and Dividend options. Entry into the plan requires a minimum investment of Rs 25,000 and in multiples of Re 1 thereof.
FMPs are close-ended funds and matures on a specific date. Investors typically come in at the launch of the FMP and stays till maturity. A FMP invests in debt and money market instruments. The average maturity of the FMP portfolio generally does not exceeds the maturity of the plan.