
Standard Chartered Mutual Fund had recently launched a debt fund - Grindlays Super Saver Income Fund - Medium Term Plan. The fund was open for its initial opublic offer from June 16, 2003 to June 27, 2003. The fund raised Rs.384 Crores from over 7,300 investors during the IPO.
The Grindlays Super Saver Income Fund - Medium Term Plan is targeted at investors with an investment time horizon between 4-12 months seeking a mix of stable quality returns and safety. The fund plans to invest 100% of its portfolio in highly rated debt and money market instruments with no exposure in equities. The investors can invest with a minimum amount of Rs. 500.