Sep 14, 2008

Principal Pnb MF waits for Sebi approval to launch FMP

01 Sep 2008 | 18:45




Principal Pnb MF waits for Sebi approval to launch FMP


Principal Pnb MF has filed offer document with Sebi to launch Principal
Pnb Fixed Maturity Plan 385 Days - Series XIII. It is a close-ended
debt scheme. The face value of the new issue will be Rs 10 per unit.
The investment objective of the scheme is to build an income oriented
portfolio and provide returns.

The
scheme offers two plans viz. regular and institutional plans. There
will be growth & dividend options under each plan. Dividend option
will further offer dividend payout and sweep facilities.

The
minimum application amount under regular plan will be Rs 1000 and Rs 50
lakh under institutional plan. The scheme seeks to collect a minimum
corpus of Rs 10 crore during NFO period.

The scheme will invest
up to 100% in debt instrument and money market instruments. It will
invest up to 100% in government securities. The scheme may invest up to
100% in the securitised debt.

The scheme will not charge any
entry load, due to its close ended nature. The scheme will charge 1.00%
as an exit load for the redemptions done from first NAV to maturity.
And there will be no exit load for redemptions of units on maturity
date of the scheme.

Benchmark Index for the scheme is Crisil Short Term Bond Index. Ritesh jain will manage the fund.



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