Lotus Mutual Fund launches AGILE Tax Fund
Lotus India AMC on Monday launched Lotus India AGILE Tax Fund (Alpha Generated from Industry Leaders Fund).
By INDIATIMES NEWS NETWORK |
MUMBAI: Lotus India AMC on Monday launched Lotus India AGILE Tax Fund (Alpha Generated from Industry Leaders Fund). India’s first Quant based ELSS scheme, its investment objective is to generate capital appreciation by investing in a passive portfolio of stocks selected from the industry leaders on the basis of a mathematical model designed by the LIAMC Team.
The new fund offer priced at Rs 10 per unit opened for purchase on November 15 and closes on February 15, 2008. Minimum application amount is Rs 500 per application and in multiples of Rs 500 thereafter.
There is no entry load during the NFO. If redeemed before maturity, investors will be charged balance proportionate unamortised issue expenses on the applicable NAV. Redemption/switch out will not be allowed during the lock-in period of 3 years from the date of allotment.
Lotus India Agile Tax Fund is a closed ended equity linked savings scheme with a maturity of 10 years that will invest in 11 stocks (9% each) determined by a mathematical model. The portfolio will be reviewed and reset every month.
The fund will invest 90-100 per cent in equity and equity related instruments and 0-10 per cent in debt and money market instruments.
The fund offers two options i.e. Growth and Dividend. The Dividend option offers Dividend Payout and Dividend Re-investment facilities. Investments made under this scheme will have a lock-in for a period of three years.
The new fund offer priced at Rs 10 per unit opened for purchase on November 15 and closes on February 15, 2008. Minimum application amount is Rs 500 per application and in multiples of Rs 500 thereafter.
There is no entry load during the NFO. If redeemed before maturity, investors will be charged balance proportionate unamortised issue expenses on the applicable NAV. Redemption/switch out will not be allowed during the lock-in period of 3 years from the date of allotment.
Lotus India Agile Tax Fund is a closed ended equity linked savings scheme with a maturity of 10 years that will invest in 11 stocks (9% each) determined by a mathematical model. The portfolio will be reviewed and reset every month.
The fund will invest 90-100 per cent in equity and equity related instruments and 0-10 per cent in debt and money market instruments.
The fund offers two options i.e. Growth and Dividend. The Dividend option offers Dividend Payout and Dividend Re-investment facilities. Investments made under this scheme will have a lock-in for a period of three years.
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