Birla Mutual Fund is about to launch an open-end Index Fund - Birla Index. The initial offer period is from 10th September to 17th September, 2002. The scheme aims to generate returns that are commensurate with the performance of the Nifty.
The minimum subscription is Rs. 5,000 without any entry load. However, the scheme will be charging an exit load of 1% for redemption upto Rs 5 lakhs, redeemed within 1 year and no exit load if the redemption amount is more than Rs. 5 lacs.