Financial Daily from THE HINDU group of publications
Tuesday, Aug 10, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 10, 2004 |
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Markets
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Mutual Funds StanChart MF launches All Seasons Bond Fund Our Bureau
Mumbai , Aug. 9 STANDARD Chartered Mutual fund has launched a debt asset allocation fund - Standard Chartered All Seasons Bond Fund. The fund is an open-ended fund of funds scheme. The fund's retail plan specifies a minimum investment of Rs 500, and the institutional plan requires a minimum investment of Rs 1 crore. "The fund would allocate between best performing debt funds," said Mr Naval Bir Kumar, Managing Director, Standard Chartered Mutual Fund. Though the prospectus of the fund allows investments in third party debt funds (debt funds run by other asset management companies), the fund will not invest in them currently as cost of managing the fund will increase, said Mr Kumar. The initial public offering of the scheme remains open from August 9 to 27.
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