Birla Sun Life Mutual fund has announced the launch of its close-ended income scheme, Birla Sun Life Fixed Term Plan-Series BG. The initial issue of units is at Rs.10 per unit. The fund opens for subscription on 30 September and will close on 08 October 2008. The scheme duration will be 370 days from the date of allotment. The investment objective of the scheme is to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme.
The scheme will have two investment plans viz. retail and institutional with growth & dividend options under each plan. Dividend option will further offer dividend payout and sweep facilities. The minimum application amount under retail plan is Rs 5000 and in multiples of Re 1 thereafter. And the minimum subscription amount for institutional investor is Rs 1 crore and in multiples of Re 1 thereafter.
The scheme will have two investment plans viz. retail and institutional with growth & dividend options under each plan. Dividend option will further offer dividend payout and sweep facilities. The minimum application amount under retail plan is Rs 5000 and in multiples of Re 1 thereafter. And the minimum subscription amount for institutional investor is Rs 1 crore and in multiples of Re 1 thereafter.
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