Religare Mutual Fund launches Religare Fixed Maturity Plan - Series II - Plan E (18 Months)

Religare Mutual Fund has announced the launch of an 18 month fixed maturity plan (FMP) - Religare Fixed Maturity Plan - Series II - Plan E (18 Months). The New Fund Offer opens for subscription today, March 17, 2010 and closes on Thursday, March 25, 2010.

The investment objective of the Scheme is to generate income by Investing in a portfolio of debt and money market instruments normally maturing in line with the maturity profile of the Scheme. The benchmark of the Scheme is the CRISIL Short Term Bond Fund Index. Religare FMP - Series II - Plan E (18 months) has a minimum application amount of Rs. 5000/- and in multiples of Rs. 10/- thereafter.

The Scheme offers dividend payout and growth options. The Units of the Scheme will not be available for subscription / switch-in / redemption after the closure of NFO Period. The Units of the Scheme will be listed on the capital market segment of National Stock Exchange of India Ltd. ('NSE').

The price of Units on the NSE will depend on demand and supply at that point of time and underlying NAV. Investors can purchase / sell their Units on a continuous basis on the stock exchange once these Units are listed. There is no minimum investment, although Units are normally traded in round lots of 1 Unit.

The Religare Enterprises stock closed the day at Rs.371.40, up by Rs.1.35 or 0.36%. The stock hit an intraday high of Rs.375 and low of Rs.368.05.

The total traded quantity was 40687 compared to 2 week average of 31319.

Source : Equity Bulls

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