Sun F&C Mutual Fund has lowered the minimum subscription amount for new investors in the Liquid Option (daily dividend plan) of the Sun F&C Money Value Fund. With effect from June 18, 2001, the new investors can enter the fund with a minimum investment of Rs 1 lakh and in multiples of Re one thereof, as against the present amount of Rs 5 lakhs.
Sun F&C Money Value Fund is an open-ended short-term debt fund introduced in January 2000. The scheme aims at high liquidity and safety of investments through a portfolio consisting of 80 per cent in money market instruments, and the balance in high quality debt securities. The daily dividend plan of the fund has yielded return of 9.21 percent and 9.45 percent, since its launch and for one year, respectively as on May 31, 2001.