An open-ended income scheme
L&T Mutual Fund has filed offer document with Sebi to launch L&T Resurgent India Corporate Bond Fund, an open-ended income scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: To seek to generate income by investing primarily in debt and money market securities of fundamentally strong corporates / companies in growth sectors which are closely associated with the resurgence of domestic economy, with a flexibility to follow more conservative investment approach during economic downturns.
Plans/ option(s): Growth and dividend (payout & re-investment) options under both non-direct plan and direct plan.
Benchmark: CRISIL Composite Bond Fund Index
Entry Load: Nil
Exit Load: For redemptions-
On or before 1 year from the date of allotment or purchase applying first in first out basis: 2%
After 1 year but on or before 2 years from the date of allotment or purchase applying first in first out basis: 1.5%
After 2 years but on or before 3 years from the date of allotment or purchase applying first in first out basis: 1%
Minimum Application Amount: Rs. 10,000 per application and in multiples of Re. 1
thereafter
Minimum Target Amount: Rs 20 crore
Asset Allocation: The scheme shall invest 65-100% in corporate debt instruments* including securitized debt and up to 35% in money market instruments and government securities.
*Corporate debt instruments would include all debt securities issued by entities such as banks, companies, Public Sector Undertakings, Municipal Corporations, body corporates, etc.
The scheme may invest in securitized debt upto 50% of its net assets.
Fund Manager: Shriram Ramanathan
L&T Mutual Fund has filed offer document with Sebi to launch L&T Resurgent India Corporate Bond Fund, an open-ended income scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: To seek to generate income by investing primarily in debt and money market securities of fundamentally strong corporates / companies in growth sectors which are closely associated with the resurgence of domestic economy, with a flexibility to follow more conservative investment approach during economic downturns.
Plans/ option(s): Growth and dividend (payout & re-investment) options under both non-direct plan and direct plan.
Benchmark: CRISIL Composite Bond Fund Index
Entry Load: Nil
Exit Load: For redemptions-
On or before 1 year from the date of allotment or purchase applying first in first out basis: 2%
After 1 year but on or before 2 years from the date of allotment or purchase applying first in first out basis: 1.5%
After 2 years but on or before 3 years from the date of allotment or purchase applying first in first out basis: 1%
Minimum Application Amount: Rs. 10,000 per application and in multiples of Re. 1
thereafter
Minimum Target Amount: Rs 20 crore
Asset Allocation: The scheme shall invest 65-100% in corporate debt instruments* including securitized debt and up to 35% in money market instruments and government securities.
*Corporate debt instruments would include all debt securities issued by entities such as banks, companies, Public Sector Undertakings, Municipal Corporations, body corporates, etc.
The scheme may invest in securitized debt upto 50% of its net assets.
Fund Manager: Shriram Ramanathan
