Lotus Mutual launches quarterly interval fund - ‘Plan B’
Lotus India Asset Management Company has launched debt oriented interval scheme, Lotus India Quarterly Interval Fund-Plan B.
By INDIATIMES NEWS NETWORK |
MUMBAI: Lotus India Asset Management Company has launched debt oriented interval scheme, Lotus India Quarterly Interval Fund-Plan B. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments.
The new fund offers growth and dividend reinvestment options. The scheme opened on Tuesday and will close on Thursday. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. Units will be available at Rs 10 each during the new fund offer.
The scheme does not charge any entry load but there is an exit load of 1 per cent on investments if redeemed any time other than the specified transaction period. The first specified transaction would be the 90th day from the date of allotment. Subsequent specified transaction would be 90th day from the previous specified transaction date. If the specified transaction date falls on a non-business day, the specified transaction date will be the next business day.
The new fund offers growth and dividend reinvestment options. The scheme opened on Tuesday and will close on Thursday. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. Units will be available at Rs 10 each during the new fund offer.
The scheme does not charge any entry load but there is an exit load of 1 per cent on investments if redeemed any time other than the specified transaction period. The first specified transaction would be the 90th day from the date of allotment. Subsequent specified transaction would be 90th day from the previous specified transaction date. If the specified transaction date falls on a non-business day, the specified transaction date will be the next business day.
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