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Birla MF to Introduce Quarterly Series in its FMP

Birla Mutual Fund will launch Quarterly series-1 within its Fixed maturity plan. The scheme will open from July 22, 2004 to August 2, 2004.

The investment objective of the scheme will be to generate regular income by investing in a portfolio of fixed income securities having a same maturity period as the scheme's duration.

The scheme will have two options- Dividend (Payout) and Growth. The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter. There will be no entry load on the scheme while an exit load of 2 per cent will be charged if the units are redeemed on any other business day other than the specified redemption date.