Canbank announced the launch of its close-ended debt scheme: Can FMP Series 1 M -Series II. The primary objective is to generate returns by investing in fixed income debt securities, the maturity of which would be in tune with the maturity of the respective plans so as to insulate the portfolio from the interest rate volatility, if investors remain in the scheme till maturity. The NFO opened on 12 July 2007 and it will closing on 24 July 2007.
Can FMP Series 1 M- Series II offer two plans i.e. growth and dividend payout. The minimum application amount for Retail plan is Rs 5000 and in multiples of Re 1 thereafter. The issue price is set as Rs. 10.
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