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Fortis Fixed Term Fund - Series 18 C Floats On

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Description  :  Corporate
Date  :  Aug-20-2010

Fortis Mutual Fund has unveiled a new 3 month close ended income scheme named as Fortis Fixed Term Fund - Series 18 C. The scheme's New Fund Offer (NFO) price is Rs 10 per unit. The new issue is open for subscription from August 19, 2010 and will closes on August 23, 2010.

The scheme's investment objective would be to achieve capital growth through investments made in a basket of fixed income securities maturing on or before the scheme's maturity.

The scheme's tenure is 3 months from the allotment date of units. The scheme offers growth as well as dividend option. Further, the dividend option shall offer calendar quarterly and dividend on maturity option. The dividend option offers only dividend payout facility.

The scheme would allocate up to 100% of assets in debt instruments and money market instruments with low to medium risk profile. However, the debt instruments may include securitized debt up to 100% of the net assets. The scheme does not intend to invest in Foreign Securities.

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