Fortis MF Introduces Additional Plan Under Interval Fund - Dec 26, 2008

Fortis Mutual Fund has introduces the additional plan viz. Institutional plan under the Fortis Interval Fund Series 2 - Quarterly Plan M & Fortis Interval Fund Series 2 - Quarterly Plan N. The institutional plan under Fortis Interval Fund Series 2 - Quarterly Plan M will open and close for subscription on 29 December 2008 while the institutional plan under Fortis Interval Fund Series 2 - Quarterly Plan N will open and close for subscription on 05 January 2009.

The details of the Institutional plan under Schemes,The institutional plan will offer growth and dividend options with two facilities viz. automatic renewal and automatic redemption facility with the default facility as automatic renewal. On the other hand, the Dividend option will have monthly dividend, quarterly dividend and quarterly dividend frequency.

Under the institutional plan, the minimum application amount is Rs 1 crore and thereafter-in multiples of Re 1. The Plan will not ask any entry load. However, there may be an exit load 4% at all time, except the interval periods.Fortis Interval Fund Series 2 - Quarterly Plan is a debt oriented interval fund with an aim to generate steady returns through investments made in fixed income securities, with a provision to offer liquidity at periodic interval.