Mumbai (PTI): Principal PNB Asset Management Company on Friday announced the launch of its closed-ended debt scheme, Principal Pnb Fixed Maturity Plan 385 Days--Series VIII.

This fund opens for subscription from July 4 and closes on July 7, a press release issued here stated.

The duration of the fund will be for 385 days from the date of allotment, July 8.

The performance of this fund would be benchmarked against the Crisil Short-Term Bond Fund Index.

The fund will have an investment plan with two investment options--growth and dividend options and the dividend option will have the facility of payout and sweep.

The minimum subscription amount for regular plan is Rs 1,000, and Rs 50 lakh for institutional plan and any amount thereafter under each option.

Ritesh Jain will be the fund manager for this fund.

No entry load will be charged during the New Fund Offer of the scheme, the release said.