Canbank Mutual Fund To Pay 7 Pc For Cancigo

Kochi: Canbank Mutual Fund has announced a seven per cent dividend (pre-tax) for Cancigo scheme under the income plan. Cancigo scheme is an open-ended debt scheme with marginal exposure in equities. The scheme can infuse up to 90 per cent in debt instruments and money market instruments and up to 25 per cent in equities. The objective of the scheme is to raise income by investing in debt instruments, money market instruments and a small portion in equity. The scheme carried no entry load, while there is an exit load of 0.5 per cent for investments up to Rs 5 lakh, exiting before six months. The minimum amount that can be invested in the scheme is Rs 5,000.