Lotus Mutual plans fixed term debt fund
MUMBAI: Lotus India Asset Management Co. Pvt. Ltd. said on Friday it has launched a 375-day close-end fixed maturity plan.
Lotus India Fixed Maturity Plan-375 Days-Series I, open for subscription till June 19, could invest up to half its assets in government securities and the rest in money market instruments, the fund house said.
The fund will not charge any entry load but levy an exit load of 2 percent for redemption before 361th day from the date of allotment, it added.
The fund house managed assets worth about 36 billion rupees at the end of May, data from Association of Mutual Funds in India showed.
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