DBS Cholamandalam Asset Management has announced the launch of its close-ended income scheme, DBS Chola Fixed Maturity Plan-Series 9 (13 months plan).  

The fund is a close ended income scheme with an objective to generate regular returns and capital appreciation.

The fund would offer redemption facility on the maturity date without the payment of any load. Redemptions before the maturity date will be subject to 2 % exit load.

The new fund offer opens for subscription on June 18th, 2008 and will close for subscription on 26th June, 2008.

The fund offers retail and institutional plans under which, the minimum application amount is Rs 5000/- and in multiples of Re.1 under the retail plan and Rs 10,00,000/- and in multiples of Re.1 under the institutional plan.

DBS Cholamandalam Asset Management Ltd. was established in 1996. The company manages funds in excess of Rs 2100 crores (as on May 31st, 2008) across 23 schemes with over 2,00,000 customer accounts. DBS Chola is present at over 20 locations in the country and also has a strong distribution network