Standard Chartered Mutual Fund launches ''All Seasons Bond Fund''

Mumbai: Standard Chartered Mutual Fund (SCMF), Yesterday announced the launch of an IPO for Standard Chartered All Seasons Bond Fund (SCASBF), a fund for all market conditions. The public issue for SCASBF will be open for subscription from August 09, 2004 and close on August 27, 2004. It willbe available through all leading banks and financial advisory houses across major metros/minmetros that offer SCMF products.

Speaking on the occasion, Naval Bir Kumar, managing director, Standard Chartered Mutual Fund said, "It is our constant endeavor at Standard Chartered Mutual Fund to innovate and introduce new avenues to meet investor's needs according to the changing market scenario. Standard Chartered All Seasons Bond Fund is a product for all interest rate conditions. The fund asset allocates amongst units of 100 per cent debt oriented mutual fund schemes that are best suited for that interest rate trend. SCASBF is ideal for investors who do not have the time or the ability to actively track their investments to get optional returns."

Adding further, Rajiv Anand — Head Investments, Standard Chartered Mutual Fund said, "Individual Debt Funds perform best in specific interest rates environment, for e.g.: Income Funds (Passive products) outperform in falling interest rates, Dynamic Bond Funds (Active Management Products) maximise returns in volatile conditions and Floating Rate Funds (Accrual Products) do best in rising rate periods. The Standard Chartered All Seasons Bond Fund, by running an asset allocation among different types of debt funds, will always endeavor to be invested in funds best suited for that condition. By pro-actively switching amongst the various types of debt funds it will attempt to generate optimal returns in all interest rate conditions. "

Standard Chartered All Seasons Bond Fund (SCASBF) is an open-ended fund of funds scheme with an investment objective to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments. It has Plan A, with a minimum investment of Rs. 500 which is a Regular plan for all types of investors and Plan B, an institutional plan, with a minimum investment of Rs.1 crore, for non individuals. Both plans A & B offer growth and dividend options (quarterly, half yearly and annual).