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Wednesday, May 28, 2014

L&T Business Cycle Fund files offer document with Sebi

An open-ended equity scheme 

L&T Mutual Fund has filed offer document with Sebi to launch L&T Business Cycle Fund, an open-ended equity scheme. The New Fund Offer price is Rs 10 per unit. 

Investment objective: To seek to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities, including equity derivatives, in the Indian market with focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. 

Options/plans: Growth and dividend (payout & reinvestment) options and direct plan- growth and dividend (payout & reinvestment) options. 

Benchmark: S&P BSE 200 Index 

Entry load: Nil 

Exit load: 1% for redemption within 18 months from the date of allotment or purchase applying first in first out basis 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 65-100% in equity and equity related securities*(including Indian and foreign equity securities as permitted by SEBI/RBI. The scheme shall also invest up to 35% in debt and money market instruments. 

* Includes investments in equity derivatives up to 25% of the net assets of the Scheme.
Fund Managers: Venugopal Manghat and Abhijeet Dakhsikar (for foreign securities)
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