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Wednesday, February 04, 2009

Fortis MF introduces additional investment plan under Flexible STP

With effect from 9 February 2009

Fortis Mutual Fund has introduces the additional plan viz. Institutional plan under the Fortis Flexible Short Term Plan – Series A. The changes will be taken with effect from 09 February 2009.

The details of the Institutional plan under Fortis Flexible Short Term Plan – Series A:

The institutional plan will offer growth and dividend options with two facilities viz. automatic renewal and automatic redemption facility with the default facility as automatic renewal. Dividend option will have monthly dividend, calendar quarterly dividend and quarterly dividend frequency.

The minimum application amount under the institutional plan is Rs 1 crore and in multiples of Re 1 thereafter.

The Plan will not ask any entry load. However, there may be an exit load 4% at all time, except the interval periods.

Fortis Flexible Short Term Plan – Series A is a debt oriented interval fund with an investment objective to generate steady returns through investments made in a basket of fixed income securities, with a provision to offer liquidity at periodic interval.

The benchmark for the scheme is CRISIL Liquid Fund Index.

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