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CanBank Mutual Fund Maturity Plan 13 Months Series-1

March 17th, 2007

CanBank Mutual Fund has come up with an NFO for its first fixed maturity plan. The scheme is called CanFixed Maturity Plan 13 Months Series-1.

The NFO for this opens on March 16, 2007 and closes on March 23, 2007. The fund will having a duration of 13 months.

As you may recall reading our previous posts on the concept of fixed maturity plans, these plans are generally recommended for people having a surplus of money which they can put to investment and get a fixed safe returns at the end of the tenure. People in the higher level of tax bracket can use this option for their investments instead of putting them into a bank fixed deposit. As you may know, returns on fixed deposits attract higher tax compared to Fixed Maturity plans of mutual funds. The level of safety is of course varies a bit when comparing both.

Entry Filed under: Mutual Funds, Fixed Maturity Plans, NFO, Canara Robeco Mutual Fund