Birla Sun Life Mutual Fund has announced the launch of close-ended income scheme, Birla Sun Life Fixed Term Plan-Series BI. The initial issue of units is at Rs.10 per unit. The fund has opened for subscription on 23 October and will close on 04 November 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 reinvestment facilities. The minimum application amount under retail plan is Rs 5000 and in multiples of Re 1 thereafter. And the minimum application amount for institutional investor is Rs 1 crore and in multiples of Re 1 thereafter.
Dividend option will further offer dividend payout and reinvestment facilities. The minimum application amount under retail plan is Rs 5000 and in multiples of Re 1 thereafter. And the minimum application amount for institutional investor is Rs 1 crore and in multiples of Re 1 thereafter.
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