Lotus Mutual Fund launches 375-day plan
Lotus India AMC has launched closed-ended debt scheme - Lotus India Fixed Maturity Plan - 375 Days - Series X.
By ET Online |
MUMBAI: Lotus India AMC has launched closed-ended debt scheme - Lotus India Fixed Maturity Plan - 375 Days ��� Series X.
The new fund offer, which opens on June 2 and closes on June 10, has two plans--regular and institutional. Both, in turn, have two options--dividend reinvestment and growth.
The minimum application amount in regular plan is Rs 5,000 and in multiples of Re 1.
It is Rs 5,000,000 and in multiples of Re 1, for institutional plan. Units are available at Rs 10 each.
The scheme does not charge any entry load but there is an exit load of 2.00 per cent on investments if redeemed before the maturity date.
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.
���The plan is designed to cater to investors who are looking at alternatives to a traditional fixed deposit having an investment horizon of around a year,��� said Ajay Bagga, CEO, Lotus India AMC, of the NFO.
The new fund offer, which opens on June 2 and closes on June 10, has two plans--regular and institutional. Both, in turn, have two options--dividend reinvestment and growth.
The minimum application amount in regular plan is Rs 5,000 and in multiples of Re 1.
It is Rs 5,000,000 and in multiples of Re 1, for institutional plan. Units are available at Rs 10 each.
The scheme does not charge any entry load but there is an exit load of 2.00 per cent on investments if redeemed before the maturity date.
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.
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���The plan is designed to cater to investors who are looking at alternatives to a traditional fixed deposit having an investment horizon of around a year,��� said Ajay Bagga, CEO, Lotus India AMC, of the NFO.
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