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Tuesday, January 06, 2009

Lotus MF revises minimum application amount

With effect from 02 January 2009

Lotus Mutual Fund has approved changes in minimum application, addition application, and redemption amount of the Lotus India Liquid Fund, Lotus India Gilt Fund, and Lotus India Overnight Fund with effect from 02 January 2009.

Lotus India Liquid Fund

The minimum application amount has reduced to Rs 5000 from Rs 10000 and in multiples of Re 1 thereafter. The amount of minimum additional application has reduced to Rs 1000 from Rs 5000 and in multiples of Re 1 thereafter. The minimum amount for redemption has been decreased to Rs 1000 or account balance, whichever is lower.

Lotus India Gilt Fund

The minimum application amount under Long duration and Short duration plan of the Gilt fund has proposed to no change i.e. it will be Rs 5000 and in multiples of Re 1 thereafter. The amount of minimum additional application is to be Rs 1000 and in multiples of Re 1 thereafter. And minimum amount for redemption has been revised to Rs 1000 or account balance, whichever is lower, form its earlier Rs 5000.

Lotus India Overnight Fund

There will be no change in the minimum application amount and minimum additional application amount i.e. it will be Rs 5000 and in multiples of Re 1 thereafter. The amount of minimum additional application is to be Rs 1000 and in multiples of Re 1 thereafter. And minimum amount for redemption has been revised to Rs 1000 or account balance, whichever is lower, form its earlier Rs 5000.

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