JM Mutual Fund has launched an open ended monthly income plan today. The scheme is open for initial offer from August 18, 2003 to September 16, 2003. It offers the following investment plans: Dividend Plan with Monthly, Quarterly, Annual Options and Growth Plan. The minimum investment amount under the dividend plans is Rs 20,000 while for the Growth Plan it is Rs 10,000.
The entire initial issue expenses will be borne by the AMC. There is no entry load but an exit load of 1% would be charged on all investment upto Rs. 25 lakhs if such investments are redeemed within 1 year from the date of investment. However, no exit load is applicable for investor availing systematic withdrawal option offered under the scheme.