ANZ Grindlays MF launches income fund

By Our Special Correspondent

MUMBAI, DEC. 12. ANZ Grindlays Mutual Fund is offering a new short term investment plan under its `Grindlay's Super Saver Income Fund Scheme'. The new scheme will be launched on December 13. The allotment for this, will be made on the same day and the first Net Asset Value (NAV) will be declared the very next day.

The plan which is an open ended income fund, is being targeted at risk averse debt fund investors and those with medium term investment horizons of one to six months. It does not charge any entry load but has a contingent exit load of 0.25 per cent of NAV, which is applicable for redemption within one month of investment.

Addressing a press conference here today, Mr Naval Bir Kumar, Managing Director, ANZ Grindlay's AMC said, ``the new short term plan is suited for investors with a medium term investment horizon, and will provide investors with stable returns for a holding period of one month or longer, but with relatively higher returns compared to cash funds.''

The Parent scheme, the Grindlay's super saver Income fund's NAV as on December 11 is Rs. 10.38 (Growth scheme).

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Section  : Business
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