Canbank Mutual Fund proposes to merge Cangrowth Plus and CanD’mat with Canfortune’94. The merger shall be effective from March 20, 2007.
After the merger, the name of the scheme will remain the same. It will be an open ended equity scheme with the investment objective of providing long term capital appreciation with periodic dividend distribution, if any. The fund plans to invest upto 85 per cent in equity and equity related securities and upto 15 per cent in debt and money market securities.
The fund’s performance would be benchmarked against BSE 100. The fund will charge an entry load of 2.25 per cent for investment less than Rs 2 crores.
The investors who do not want to continue with the merged scheme, have been given an opportunity to exit the respective schemes without any exit load on or before March 16, 2007.