DBS Chola Mutual fund has announced the launch of its close-ended income scheme, DBS Chola Fixed Maturity Plan-Series 10 -Quarterly Plan II. The initial issue of units is at Rs.10 per unit. The fund opens for subscription on 5 September and will close on 11 September 2008. The scheme is a close ended with an aim to generate regular returns and capital appreciation by investing in debt including securitized debt, Government and money market securities maturing in line with time profile of the respective plans. The maturity of the fund is 91 days.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. The entire corpus under the scheme will be invested in money market instruments, corporate bonds, debt and govt. securities. Investors can opt between a cumulative or dividend payout. The scheme doesn't ask for an entry load. Redemptions before the maturity date will be subject to 0.50% exit load. The Benchmark for the fund will be CRISIL Liquid Fund Index. The scheme will be managed by Ankur Parekh.
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