The Indian
Express
The Financial Express
Latest News
EIW
Market Indicators
Screen
Express Computers
Graffiti
Crossword
Advertisers Forum
Travel & Tourism
Information Technology
Drumbeat: Ad Buzzaar
Astrosurf
Eco-India
Dr Know
Career India
Business Forum
Match Maker
Express Properties
|
| |
Thursday, April 30, 1998
Dhanvarsha 13 to be launched in July
Parul Monga
MUMBAI, April 29: LIC Mutual Fund plans to unveil another Dhanvarsha scheme, Dhanvarsha (13), in July this year. This would be close on the heels of the redemption of Dhanvarsha (5) which is being redeemed on July 31, 1998. "Dhanvarsha (13) will be a five year close-ended regular income and growth scheme. The scheme will carry assured returns which will be declared on a yearly basis" says chief executive officer of LIC Mutual Fund RG Sharma.The aim is to attract the redemptions to the new scheme. For this reason, the new scheme will be launched a fortnight before the redemption date of Dhanvarsha (5). The current Dhanvarsha (12) scheme of LIC mutual fund, which is open for subscription is a close ended regular income and growth scheme. The scheme had collected Rs 70 crore as on April 29. Dhanavrasha (12), which was launched on April 1 and is open till May 15, had set an internal target of mobilising Rs 100-150 crore. Dhanavarsha (12), will find the going tough now that ICICI has launched its safety bondissue with a coupon of 14 per cent per annum. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
|
 |
|
|
|
