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Thursday, Jun 27, 2002

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Canbank MF plans pure debt scheme

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CANBANK Mutual Fund is planning to come out with an open-ended pure debt scheme called `CanIncome' shortly.

According to a press release issued by Canbank Investment Management Services here, the new scheme is to be an `open-ended debt scheme with the objective of generating income through investment in debt and money market securities of varying maturities and issues of different credit risk profiles.'

The plans offered under the scheme will include a growth plan with automatic repurchase option, income plan and bonus plan.

The minimum investment is Rs 10,000 under the growth plan, Rs 20,000 under the automatic repurchase option, Rs 10,000 under the income plan and Rs 20,000 under the bonus plan.

Canbank Mutual Fund currently offers 10 open-ended schemes such as Cangilt (PGS), Canpremium, Cancigo and Canliquid.

The Fund has also opened 16 investor relation centres and plans to widen its network shortly. Plans are also afoot to promote `investor education', apart from launching more new schemes.

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