Chola Mutual Fund has launched Chola Global Advantage Fund. An open-ended diversified equity scheme, the fund's IPO began today and would continue till May 16, 2005.
The fund plans to invest in Indian companies that are globally competitive and have or are expected to have at least 20 per cent of their turnover from exports of goods or services over the next three years.
Benchmarked against the S&P CNX 500, the fund plans to invest 80 to 100 per cent of its assets in equity and equity related instruments and the balance in debt and money market instruments.
The fund would charge an entry load of 2.25 per cent up to an investment of Rs 1 crore. There won't be any load above that investment. There is no exit load. The minimum application amount has been fixed at Rs 5,000.
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