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Can Multicap


Canbank Mutual Fund has come out with a close-ended equity fund - CanMulticap.

Unlike other three-year offerings, this one is a five-year close ended fund. Being a multi-cap fund, it will not show any preference to a specific market cap.

Though it plans to keep the equity allocation to 90 per cent, the fund will have a minimum allocation of 75 per cent in equity and a maximum of 100 per cent.

Where debt and money market instruments are concerned, the range will be from 0 to 25 per cent, though it will most likely hover at around 10 per cent.

There will be no entry or exit load. However, for redemption before maturity, the proportionate, unamortised fund expenses shall be recovered.

Snapshot
Unit cost during NFO: Rs 10
Type of fund: Close-ended equity
Options: Growth, Dividend reinvestment, Dividend payout
Minimum investment: Rs 5,000
Fund Manager: K Umesh Kamath
Benchmark: BSE 200
Offer opened: December 6, 2006
Offer closes: January 4, 2007