Birla Bond Plus

Birla Mutual Fund has launched Birla Bond Plus. This is an open-end income scheme, and offers dividend and growth options.

The fund will invest in debt and money market instruments. The minimum subscription amount is Rs 5,000 and in multiples of Re 1, thereafter. There is no entry load, but there will be an exit load of 0.25 per cent. The latter load will apply if the units are redeemed within 30 days. The fund was closed for subscription during the initial offer on November 22, and is now available on an ongoing basis for sale and repurchase. -- BL Research Bureau