Biria Mutual Fund has launched another MIP called Birla MIP -II. The scheme is open for subscription from April 12 to April 30, 2004. The scheme has two plans -- Savings 5 and Wealth 25 with growth, monthly dividend and monthly payment plans. The minimum initial investment for each plan is Rs 5,000. There is no entry load in the scheme but an exit load of 0.60 per cent would be charged if redeemed within 90 days. Initial issue expense will be borne by the AMC. The benchmark of the scheme is Crisil MIP Blended Index.
Savings 5 Plan: It is ideally suited for the over cautious investor with a medium to long term investment horizon. Under normal circumstances, the plan will have a marginal equity exposure of up to 5 per cent of the portfolio. The balance component would be invested in high quality debt instruments.
Wealth 25 Plan: The conservative investor with a slightly higher appetite for equity exposure should consider investing in the Wealth 25 plan. This plan, under normal circumstances, will have a higher equity exposure of up to 25 per cent of the portfolio. The balance component would be invested in high quality debt instruments.