DBS Chola launches Fixed maturity plan

MUMBAI: DBS Chola Mutual fund on Wednesday announced the launch of its close ended income scheme, DBS Chola Fixed Maturity Plan-Series 9.

The scheme aims to generate regular returns and capital appreciation by investing in debt, Government and Money market securities, the company said in a press release issued here.

The fund, which would offer redemption facility on the maturity date without the payment of any load, opens for subscription on June 18 and will close on June 26, the company said.

Redemptions before the maturity date will be subject to 2 per cent exit load, it said.

The fund offers both retail and institutional plan with the minimum investment limit for the former has been fixed at Rs 5,000 and that for institutional investors at Rs 10 Lakh.

DBS Cholamandalam Asset Management manages funds in excess of Rs 2,100 crore across 19 schemes with over 100,000 customer accounts, the company said.