Principal Pnb mutual fund has filed an offer document for Principal Pnb Fixed Maturity Fund - 385 days - Series VI. It is a close-ended debt scheme with a maturity period of 385 days from the date of allotment. The new fund offering (NFO) for the scheme is Rs. 10. The scheme seeks to collect Rs 10 crore in each plan as the minimum subscription amount.
The minimum application under regular plan is Rs. 1,000/- and in multiple of Re. 1/- thereafter. The minimum application under institutional plan is Rs. 50 lakhs and in multiple of Re. 1/- thereafter.
There are two options under the scheme i.e. regular option and institutional option. The investors will have the choice of a growth or dividend sub-option under both the options. The regular option will be the default option and growth sub-option will be the default sub-option. Under dividend option, dividend payout facility and sweep is only available.
The investment objective of the schemes is to offer build an income oriented portfolio and provide returns along with regular liquidity to investors.
There will no entry load charged for the scheme due to its close-ended structure.
The scheme charges an exit load of 1.60% for the redemption made before the maturity period. There will not be any exit load charged for the redemption made at or after maturity date.
The fund will invest 0%-100% in debt securities and money market instruments that includes investment in securitiesed debt up to 100% of the net assets of the scheme. The scheme will also invest up to 100% in to the government securities with low risk profile.
Source : www.indian-commodity.com
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