MUMBAI, March 7: Notwithstanding the bad experiences of several mutual funds and the general interest rate fluctuations, Kothari Pioneer Mutual fund has declared assured returns for its Guarantee Income Plan scheme for the second year after its launch.The scheme which had been launched as a closed end income scheme in March 1997 with minimum assured returns (which are announced in advance before the commencement of each year) has announced a minimum assured returns of 15 per cent and 14 per cent for its investors in the Annual Plan and Monthly Plan respectively.It may be recalled that several mutual funds, including Canbank Mutual Fund, GIC Mutual Fund, PNBMF and Indbank Mutual Fund got into trouble recently as they were not in a position to fulfil their earlier commitments.According to Vivek Reddy, chief executive Kothari Pioneer AMC, "The scheme had earlier assured minimum returns of 16 per cent and 15 per cent under the annual and monthly plans in the first year".
