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CanIncome Raises Over Rs 54 crores in IPO

Canbank Mutual launched its first open-ended income fund on August 20th. The scheme has mopped up over Rs 54 crores from nearly 1200 investors during its initial offer, which closed on September 7, 2002. It will open for ongoing sale and repurchase from September 23, 2002.

CanIncome was the twenty-fifth fund from the AMC. Currently, Canbank Mutual Fund manages thirteen schemes with an asset base of Rs 892 crores approximately.