It is a close-ended income scheme. The objective of the scheme is to generate returns while endeavoring to manage interest rate volatility over the maturity period through a portfolio of fixed income securities.
AIG Fixed Maturity Plan - I- Series - I will have retail and institutional plan and each plan will have a growth and dividend option. The dividend option offers only dividend payout facility.
The schemes does not levy entry load, as it is of close-ended nature.
The scheme charges an exit load of 2.00% of applicable NAV if investment is redeemed on or before completion of 6 months, 1.50% of the applicable NAV if redeemed between 6 months-1 day and before completion of 12 months, and 1.00% of the applicable NAV if redeemed between 12 months-1 day and before completion of 18 months of the respective series, as applicable. The scheme will not levy exit load for the redemptions on maturity.
The minimum investment amount under retail plan is Rs 10,000 and in multiples of Re 1 thereafter. And for institutional plan, the minimum investment amount is Rs 1 crore and in multiples of Re 1 thereafter.
The scheme will invest its entire corpus in debt and money market securities. The scheme may invest upto 75% of the net assets in the debt securities. And the scheme may invest upto 100% of the net assets in the derivatives for the purpose of hedging and portfolio balancing purpose.
Benchmark of the scheme will be Crisil Short Term Bond Index.
No comments:
Post a Comment