Baroda Pioneer 380 Day Fixed Maturity plan – Series 1 is the New Mutual Fund Offer just launch in the market. Baroda Pioneer Mutual Fund issues this Fixed Maturity Plan (FMP). The investment objective of the Scheme is to generate regular returns by investing in a portfolio comprising of debt instruments and Money Market Instruments maturing on or before the maturity of the scheme.
The New mutual fund open in the market from 09th March, 2011 and closes on 14th March 2011. The face value of each unit is Rs. 10 and the minimum required investment is Rs. 5000 and multiples of Re. 1 thereafter. This is a close ended mutual fund and the maturity is only after 380 days and you can redeem the fund at the maturity period.
This is a debt scheme and those who are not ready to bear the risk of equity schemes can invest in this mutual fund. The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The scheme offers growth and dividend payout option.
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