Principal Mutual Fund (MF) has unveiled a new fund named as Principal PNB MF
Fixed Maturity Plan - Series B23, a close ended debt scheme.
The tenure of the scheme is 1099 days from the
date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per
unit.
The new issue will be open for subscription from 8
May and close on 14 May 2015.
The investment objective of the scheme is to build an income
oriented portfolio and generate returns through investment in debt / money
market instruments and government securities.
The scheme offers growth and dividend option. Dividend option
under both the plans will have the facility of Payout and Sweep.
The scheme will invest 80% to 100% of assets in debt
instruments, Government of India dated securities / State Government dated
securities / Government of India Treasury Bills and invest upto 20% of assets
in money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs
1 thereafter.
Entry & exit load charge are not applicable.
Units of the plan will be listed on the National Stock Exchange.
Benchmark Index for the scheme is Crisil Composite Bond Fund
Index.
The fund manager of the scheme is Mr. Pankaj Jain.
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