Birla Mutual Fund has launched the Asset Allocation Fund today. The fund would aim to provide income and capital appreciation along with diversification by investing in a basket of debt and equity mutual funds in line with the risk profile of the customer. The scheme would be open for initial subscription rom January 6, 2004 to January 20, 2004. The scheme offers four plans: Aggressive, Moderate, Conservative and Dynamic Debt plan. Each plan will have a dividend and growth option.
The minimum investment for all the plans is Rs. 5000. The fund would not charge an exit load, but an entry load of 1.50 per cent for Aggressive Plan, 1 per cent for Moderate Plan and 0.50 for the Conservative Plan, while the Dynamic Debt Plan would be a no load fund.