The scheme was launched in January 1994 with an initial corpus of Rs 198 crore. The net assets of the scheme on April 23, 1998 stand at Rs 189 crore against a unit capital of Rs 172.30 crore. The units are listed on the Mumbai Stock Exchange. It will be delisted with effect from June 1, 1998 as the scheme now provides continuous sale/repurchase facilities.

The Mediclaim and Personal Accident Insurance cover is being discontinued on conversion of the scheme. However, existing unitholders on April 22, 1998 will get the benefit of the cover till May 31, 1998 only. Henceforth, account statements will be issued to investors.Existing investors can retain their unit certificates or exchange them for account statements against surrender of unit certificates.