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Thursday, February 19, 2009

Fortis MF launches FTP-Series 14 C

NFO period from 19 February–16 March 2009

Fortis Mutual Fund has launched initial offer period of Fortis Fixed Term Plan - Series 14 C on 19 February 2009. The new issue will be closed for the subscription on 16 March 2009. The New Fund Offer (NFO) price for the fund is Rs 10 per unit.

It is a close-ended income scheme. The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of fixed income securities maturing on or before the maturity of the scheme.

The scheme offers two plans viz. regular and institutional plan, which will have two sub-options of growth and dividend options. The dividend option offers dividend payout and dividend reinvestment facilities. The scheme offers dividend options with frequency of calendar quarterly, calendar yearly, and dividend on maturity option.

The minimum investment amount under regular plan is Rs. 5,000 and in multiples of Rs 10 thereafter. Under institutional plan, the minimum investment amount is Rs. 25 lakh and in multiples of Rs 10 thereafter.

The fund will charge neither entry load nor exit load. As the Scheme is being listed, investors will not be able to redeem their units during the tenor of the scheme and there will be redemption by the fund only on the maturity of the Scheme.

The performance of the scheme will be benchmarked against CRISIL Short-Term Bond Fund Index.

Alok Singh will manage the investments in scheme.

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