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Birla Launches Additional 1-year Plan Under FMP

Birla Sun Life Mutual Fund has launched an additional plan under its Fixed Maturity Plan -- 1-year Group 5. The plan will open for subscription from July 15 to July 18, 2002. The maturity date of the plan is the 379th day from the close of the subscription period.

The minimum subscription amount in the plan is Rs 25,000 and in multiples of Rs 10,000 thereafter. Subscriptions to the plan will not attract any entry load. However, an exit load of 4% will be charged if redeemed before maturity.

Birla FMP is a closed-end 100 per cent debt fund and is ideal for risk-averse investors seeking stable returns over a fixed period similar to Bank fixed deposits.