Sep 15, 2008

AIG MF unveils FMP- I- Series - I AIG Mutual Fund has launched AIG Fixed Maturity Plan - I- Series - I

02 Sep 2008 | 10:09




AIG MF unveils FMP- I- Series - I


AIG Mutual Fund has launched AIG Fixed Maturity Plan - I- Series - I on
2 September 2008. The new issue will close for subscription on 10
September 2008. The duration of the scheme will 367 days from the date
of allotment of units and the date of allotment is on 17 September
2008. The NFO price for the fund is Rs 10 per unit.

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.

Ruchir Parekh will be the fund manager of the scheme.



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