Principal Asset Management has launched MIP Plus in Principal Monthly Income Plan. The Monthly Income Plan - Plus will be open for subscription from December 1, 2003 to December 22, 2003. The minimum investment amount in Dividend and Growth Payout Plan would be Rs. 10,000 and Rs 5000 under the Growth Accumulation plan.
The key difference between the Principal MIP and the Principal MIP - Plus is in the Asset Allocation. MIP Plus is targeted at those investors who are ready to take on a little bit more of equity in an attempt to boost their fixed income returns. The existing Monthly Income Plan has an asset allocation of upto 15% of equity and equity related instruments and the balance invested in debt. MIP Plus is a variant, which will have upto 25% of equity and equity related investments in its portfolio. In both the plans, the investment in debt securities would be upto 100%.