Canbank Mutual fund is planning to launch two new open-ended schemes: Canequity Diversified and Can Short Term. Currently the AMC manages Rs 1600 crore approximately under thirteen schemes.
Canequity Diversified would be open for initial public offer from August 29, 2003 to September 12, 2003. It will open for continuous sale and repurchase from September 17, 2003. The fund would charge an entry load of 1.85 per cent but no exit load on an ongoing basis. It offers the following investment plans: Growth, Bonus and Dividend.
Can Short Term would be open for initial public offer from August 29, 2003 to September 9, 2003 and will open for continuous sale and repurchase from September 15, 2003. It would be a no load fund. It offers two options: Growth and Dividend.
The minimum amount of investment under both the schemes is Rs 5000 each. Both the schemes offer Systematic Investment Plan and the entire initial issue expenses under both of them would be borne by the AMC.
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