Birla Sun Life MF to launch equity linked FMP Birla Mutual fund has launched Birla sun life equity linked FMP - Series A & B option. It is Close Ended Debt scheme with only one time investment option available. The Maturity period for Series A is 36 months and for Series B it is 21 months. The Liquidity for both series is Quarterly and NAV declaration for both series will be every Wednesday. The primary investment objective of the scheme is to invest in short and medium term debt instruments with fixed and/or floating payouts linked to equity indices. The Scheme may also undertake to invest in derivative contracts. These instruments will normally mature in line with the time profile of the scheme. The scheme also offers Institutional and Retail - Growth and Dividend options.
The offer opened on 26th June, 2008 and closes on 23rd July, 2008.
The minimum investment amount is Rs 5000 for retail plan and Rs. 5 crore for Institutional Plan in multiple of rupee 1 thereafter.
Entry Load for Series A: Retail Plan is 2.25% and Series B Retail Plan is 1.50%. However there is no entry load for Institutional plan under both A & B plans.
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