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Provident Plan Introduced Under Principal Gilt Fund

Principal Mutual fund has launched a Provident Plan under Principal Government Securities Fund. The fund is open for initial offer from January 19 to February 9, 2004. It would open for ongoing sales and subscription from February 16, 2004. The minimum investment for the scheme is Rs.5000 The fund would have three options Dividend, Growth and Annual NAV Rebalancing Option. The fund would not charge any entry load but an exit load of 1 per cent if redeemed within 6 months and 0.50 per cent if redeemed within a year.