Deutsche Mutual Fund is launching two new schemes: Deutsche Dynamic Bond Fund and Deutsche Floating Rate Fund. The funds would be open for subscription from October 16, 2003 to October 20, 2003 and would open for ongoing subscription on October 23, 2003.
Deutsche Dynamic Bond Fund offers two plans: Institutional and Regular Plan, with a Growth and a Dividend option under each of them. The minimum investment is Rs 1 crore and Rs. 5000 for Institutional Plan and Regular Plan respectively. Deutsche Dynamic Bond - Regular Plan would not charge any entry load but an exit load of 0.50 per cent for all investments upto Rs 10 lakhs and redeemed within 3 months, while the Institutional Plan would be a no load fund.
The second offering: Deutsche Floating Rate Fund is also a no load fund. The minimum investment in the fund is Rs.1 lakh, the minimum balance to be maintained is Rs. 1000 and an investor can redeem a minimum of Rs.3000 from his investment account.
The initial issue expenses for both the schemes would be borne by the AMC.