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Chola Mutual Fund to Launch 91-Day FMP

Chola Mutual Fund has decided to launch a fixed maturity plan. Named as Chola Fixed Maturity Plan - Series 1 (Quarterly Plan - I), the fund would be available for subscription on June 27 and June 28. A 91-day plan, the fund would mature on September 28, 2005.

The scheme seeks to generate regular returns and capital appreciation by investing in debt (including securitised debt), government and money market securities normally maturing in line with the time profile of the plan.

The fund won't charge any entry load but impose an exit load of 0.50 per cent for redemptions before the maturity date. The minimum investment is Rs 5,000 and in multiples of Re 1 thereafter.