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Standard Chartered MF To Launch Floating Rate Fund

Standard Chartered Mutual Fund is launching an open ended income scheme called Grindlays Floating Rate Fund-Long Term Plan. This will be the third floating rate offering from the AMC.

The fund will have two sub plans – Plan A (Regular plan) and Plan B (Institutional plan).

Fund details:
Initial Issue Opens - July 19, 2004. Initial Issue Closes - July 30, 2004.

Minimum Application Amount:
Plan A - Rs 500 and in multiples of Re 1 thereafter. Plan B - Rs 1 crore and in multiples of Re 1 thereafter.

Entry Load - Nil.
Exit Load - Plan A – For investment up to 10 lakh, an exit load of 0.5 per cent will be charged if units are redeemed within 6 months. No exit load in Plan B.

Investment Options - Growth, Dividend (Quarterly and Annual).