Principal mutual launches fixed income fund

MUMBAI, July 4 (Reuters) - Indian mutual fund firm Principal PNB Asset Management on Friday launched a close-end fixed income fund with a maturity of 385 days, it said in a statement.

Principal Pnb Fixed Maturity Plan 385 Days - Series VIII, open for subscription till July 7, will invest in debt and money market instruments.

The fund will not charge any entry load but will levy an exit fee of 2 percent for redemptions before maturity, the fund said. (Reporting by Nishant Kumar; editing by Sunil Nair)