The Hindu Business Line : Canbank to pay 7% for Cancigo

Kochi April 27 Canbank Mutual Fund has declared a seven per cent dividend (pre-tax) for Cancigo scheme under the income plan. Cancigo scheme is an open-ended debt scheme with marginal exposure in equities. The scheme can invest up to 90 per cent in debt instruments and money market instruments and up to 25 per cent in equities.

The objective of the scheme is to generate income by investing in debt instruments, money market instruments and a small portion in equity, a press release issued here has said. The scheme carried no entry load, while there is an exit load of 0.5 per cent for investments up to Rs 5 lakh, exiting before six months. The minimum amount that can be invested in the scheme is Rs 5,000.

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