PR – AIG Mutual Fund has launched AIG Infrastructure and Economic Reform Fund, an open – ended equity scheme. The scheme opens for subscription on Jan. 10, 2008 and closes on Jan. 31, 2008. The units of the scheme will be available at Rs 10 per unit during the New Fund Offer period. The scheme will offer two plans – regular and institutional plan. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter under regular plan and for institutional plan the minimum application amount is Rs 50 million and in multiples of Rs 1 thereafter.
The scheme will charge an entry load of 2.25% if the amount invested is less than Rs 50 million.
On the other hand, under regular plan, the scheme will charge an exit load of 1% if the amount invested is less than Rs 50 million and is redeemed within one year from the date of allotment. If the amount invested is more than Rs 50 million and is redeemed with six month from the date of allotment the scheme will charge an exit load of 0.50%.
Under institutional plan the scheme will charge an exit load of 0.50%, if the units of the scheme are redeemed within six month from the date of allotment.
