Birla Mutual Fund launches another fixed term plan- Birla Fixed Term Plan Quarterly Series 11.The fund remains open for subscription from 16th March to 26th March, 2007.It is a 91 days fund and is specifically designed to control price risk.
The primary objective of the scheme is to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme. The fund offers two investment options: Growth and Dividend with payout facility.
The minimum investment amount for the scheme would be Rs. 5000 and the performance of the fund would be benchmarked against Crisil Liquid Fund Index. No entry load will be charged by the fund but an exit load of 0.50 per cent will be levied if redemption is made before maturity.