Canbank Mutual eyes Rs 200 crore from FMP Series
Canbank Mutual Fund has launched Fixed Maturity Plan Series 1M SR1.
By PTI |
MUMBAI: Canbank Mutual Fund has launched Fixed Maturity Plan Series 1M SR1. This close-ended debt scheme comprising of series of plans of varying maturities will be open from June 11 to June 20.
The fund proposes to launch two plans under each series of the fixed maturity plan on a monthly basis (in case of six-month plan), quarterly basis (in case of 13-month plan) and semi annual basis (in case of 18 month plan).
The scheme will mainly invest in fixed income debt securities maturing in line with the respective plans, so as to insulate the portfolio from interest rate volatility.
“We expect an average of Rs 200 crore of subscription from the scheme,” said Amruth Rao, fund manager, Canbank Mutual Fund.
The scheme offers growth as well as dividend options. Investments under each plan under all series will be locked until maturity. Investors can invest minimum Rs 5,000 at Rs 10 per unit and in multiples of Rs 10 thereafter.
There is no entry load for any of the plans, but 0.5% exit load will be charged if investors exit before maturity in six-month plan series.
Redemption within one year of allotment will attract exit load of 1% in 13-month and 18-month plans.
The fund proposes to launch two plans under each series of the fixed maturity plan on a monthly basis (in case of six-month plan), quarterly basis (in case of 13-month plan) and semi annual basis (in case of 18 month plan).
The scheme will mainly invest in fixed income debt securities maturing in line with the respective plans, so as to insulate the portfolio from interest rate volatility.
“We expect an average of Rs 200 crore of subscription from the scheme,” said Amruth Rao, fund manager, Canbank Mutual Fund.
The scheme offers growth as well as dividend options. Investments under each plan under all series will be locked until maturity. Investors can invest minimum Rs 5,000 at Rs 10 per unit and in multiples of Rs 10 thereafter.
There is no entry load for any of the plans, but 0.5% exit load will be charged if investors exit before maturity in six-month plan series.
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Redemption within one year of allotment will attract exit load of 1% in 13-month and 18-month plans.
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