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Thursday, July 22, 1999
Kothari Pioneer AMC to unveil gilt fund
Parul Monga
Mumbai, July 21: The Kothari Pioneer Asset Management Company plans to launch an open-ended gilt fund and has lodged the prospectus with Sebi. The issue opens on August 9 for subscription. The Gilt fund plans to attract investments from provident, pension and gratuity funds and banks. The scheme has two plans - a liquid plan and an investment plan. The liquid plan will have a monthly dividend option and a growth option. The investment plan will have a quarterly dividend option and a growth option.This will be the fifth gilt fund to hit the market. The first gilt fund to make an entry into the Indian markets was that of Kotak Mahindra Mutual Fund which now manages assets of Rs 300 crore. The second was that of Dundee Sovereign Trust and the third fund was from Templeton Asset Management Company. The fourth was launched on Wednesday by Prudential ICICI AMC which is open for initial subscription from July 21 to August 9. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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