BNP Paribas Mutual Fund has launched a new fund named as BNP Paribas Income & Gold Fund, an open ended debt scheme. The new issue will be open for subscription on May 17 and will close on May 31, 2012
The new issue will be open for subscription on May 17 and will close on May 31, 2012. The scheme re-opens for continuous sale and purchase within 5 business days of allotment. . The New Fund Offer (NFO) price for the scheme will be Rs 10 per unit
The scheme’s portfolio comprises of 65% to 90% debt instruments and 10% to 35% of assets in Gold ETFs with high risk profile.
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The fund seeks to garner minimum subscription amount of Rs 20 crore during the NFO period.
It offers growth and dividend option. The dividend option offers dividend payout and dividend reinvestment option.
Entry load charge for the scheme will be nil. Exit load charge of 1% if redeemed/ switched out upto 12 months, 0.50% between 12 months - 18 months and Nil if redeemed or switched after 18 months from the date of allotment will be applicable.
Crisil Short Term Bond Fund Index + Price of Gold with the ratio of 75:25 will be the Benchmark Index for the fund
The fund will be managed by Puneet Pal.
ADS BY GOOGLE
video of the day
Rupee weakness modest, see yields at 7.60% in Q1: Deutsche