Lotus India AMC launches closed-ended debt scheme

MUMBAI: Lotus India AMC on Monday announced the launch of its closed-ended debt scheme-Lotus India Fixed Maturity Plan-3 Months-Series XVIII.

The objective of the scheme is to generate income by investing in a portfolio of debt and money-market instruments normally maturing in line with the duration of the scheme, a release issued here on Monday said.

The scheme offers two options - growth and dividend reinvestment.

It is open for subscription from today and will close on September 24.

The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. Units will be available at Rs 10 each.

The scheme does not charge any entry load but there is an exit load of 0.75 per cent on investments if redeemed before the maturity date.

Lotus India AMC is a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide.