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Our Bureau

Kolkata , May 11

Principal MF has worked out a close-ended scheme offering fixed maturity plans. The proposed Principal PNB Long Term Equity Fund will have two investment plans with three and five year maturity periods.

This will be converted into an open-ended product on maturity. But the trustees will have the right to roll it over for a further period. Under normal circumstances, at least 70 per cent of the assets will be invested in equity and equity related instruments.

The plans, which will have separate portfolios, will be benchmarked against the Nifty.

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Principal Mutual plans FMP scheme

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