Mumbai: Principal PNB Asset Management Company today announced the launch of its closed-end debt scheme, Principal PNB Fixed Maturity Plan 385 Days-Series VIII.
The fund opens for subscription from 4 July and closes on 7 July, a statement said here.
The duration of the fund will be for 385 days from the date of allotment, 8 July.
The performance of this fund would be benchmarked against the Crisil Short-Term Bond Fund Index.
The fund will have an investment plan with two investment options, growth and dividend options. The dividend option will have the facility of payout and sweep.
The minimum subscription amount for regular plan is Rs1,000, and Rs50 lakh for institutional plan and any amount thereafter under each option.
No entry load will be charged during the New Fund Offer of the scheme, the statement added.