Canbank MF Files An Offer Document

Canbank Mutual Fund has filed an offer document for CanInterval Fund. It is a debt oriented interval scheme. The new fund offering (NFO) for the scheme is Rs. 10. The fund house seeks to collect a minimum corpus of Rs. 2 crore under each scheme.
The minimum subscription amount under regular plan is Rs. 5000 and in multiple of Re 1thereafter. The minimum subscription amount under institutional plan is Rs. 50 lakh and in multiple of Re 1thereafter. CanInterval Fund offers 3 schemes to the investor's i.e. monthly interval scheme, quarterly interval scheme and annual interval scheme. The scheme further offers investors retail and institutional plan with growth option and a dividend option. The dividend option offers dividend payout and dividend reinvestment facilities. The investment objective of the scheme is to generate returns and growth of capital by investing in central and state govt. securities and other fixed income / debt securities normally maturing within the maturity of interval plan to insulate the portfolio from interest rate volatility. The scheme charges will not charge any entry load under any plan of the scheme. But there will be an exit load under different schemes of fund. Under monthly interval plan the scheme charges an exit load 0.10% if investment is redeemed at anytime other than specified transaction date / period. Under quarterly interval plan the scheme charges an exit load 0.30% if investment is redeemed at anytime other than specified transaction date / period. Under annual interval plan the scheme charges an exit load 1.00% if investment is redeemed at anytime other than specified transaction date / period. There will no exit load under any scheme if the investment is redeemed on / during specified transaction date / period.