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Friday, August 01, 2014

L&T Business Cycles Fund Floats On

NFO period is from 30 July to 13 August 2014 

L&T MF has unveiled a new fund named as L&T Business Cycles Fund, an open ended equity scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 30 July and closes on 13 August 2014. 

The investment objective of the scheme is 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. 

The scheme offers growth & dividend (reinvestment / payout) option. The scheme will allocate 65%-100% of its assets in equity and equity related securities (including Indian and foreign equity securities as permitted by SEBI/RBI) with high risk profile and invest upto 35% of its assets in debt and money market instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry Load: Nil. 

Exit load (for purchases (including SIP) during the NFO period and ongoing offer period): 1% of applicable NAV for redemption within 18 months from the date of allotment or purchase applying first in first out basis. 

Benchmark index for the scheme is S&P BSE-200 Index. 

The scheme will be managed by Venugopal Manghat and Abhijeet Dakshikar (for foreign securities).
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