The Hindu Business Line : Chola MF launches two open-ended funds

Mr. Sashi Krishnan, Chief Executive, Chola Mutual Fund, at a press conference announcing the launch of `Chola Midcap Fund and Chola Income Plus' in Mumbai on Friday. - Shashi Ashiwal

Mumbai , June 25

CHOLA Mutual Fund has launched two open-ended funds - Chola Midcap Fund and Chola Income Plus.

The initial offer period is from June 25 to July 23 2004 with the offer price of Rs. 10 per unit. Subsequently, the funds will be open on an ongoing basis.

Chola Midcap Fund is an open-ended equity scheme, which seeks to invest primarily in mid-cap stocks with market capitalisation between Rs 300 crore and Rs 3,000 crore. The scheme will have both cumulative and dividend options. Chola Income Plus is also an open-ended income scheme, which will predominantly invest in debt and money market instruments with a modest (0-10 per cent) exposure to equity. The minimum application amount is Rs 10,000 under the dividend option and Rs 5,000 in the cumulative option. "The fund will follow an investment process focussed on disciplined stock selection and seek to provide consistent investment performance by following adequate risk management practices," said Mr Sashi Krishnan, Chief Executive, Chola MF, at a press conference here today.