Principal Pnb MF launches FMP 385-S-VIII

Principal PNB Mutual Fund has launched Principal PNB Fixed Maturity Plan (FMP) 385 Days - Series VIII, a closed-end debt scheme. The scheme opens for subscription on Jul. 4, 2008 and will close on Jul. 7, 2008. The units of the scheme will be available at Rs 10 per unit.

The investment objective of the scheme is to build a quality income oriented portfolio and provide returns along with regular liquidity to investors. The duration of the scheme is 385 days from the date of allotment.

The scheme will offer for redemption/switch-out of units at monthly intervals at NAV based prices.

The scheme offers growth option and dividend option. The dividend option shall have payout and sweep facility.

The minimum application amount is Rs 1,000 for regular plan and Rs 50 million for institutional plan and any amount thereafter under each option.

The performance of the scheme will be measured against CRISIL Short Term Bond Fund Index.