Tata Mutual Fund has launched an index fund today. The fund would be open for initial offer till February 24, 2003. It has two plans - Nifty and Sensex. Each plan will have two options each - Option A and Option B. Under Option A the minimum amount of investment is Rs 5000, while it is Rs 10,00,000 under Option B. The fund would charge initial issue expenses of 3 per cent under both the options. Also, Option A would charge an entry load of 1 per cent and no exit load, whereas Option B would be a no-load fund. The Option A under both the plans would offer Systematic Investment Plan and Systematic Withdrawal Plan.
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