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Tuesday, January 27, 2015

L&T FMP – Series XII – Scheme A (1148 days) Floats On

NFO remains open only on 27 January 2015

L&T Mutual Fund has launched a new fund named as L&T FMP – Series XII – Scheme A, a close ended income scheme. The tenure of the scheme is 1148 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription only on 27 January 2015. 

The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of debt / fixed income securities maturing on or before the maturity of the scheme. 

The scheme offers two options viz. growth and dividend (payout) option. 

The scheme would allocate 90%-100% of assets in debt instruments and invest upto 10% of assets in money market instruments with low to medium risk profile. Debt instruments may include exposure in derivatives, either exchange traded or over the counter which can be upto 50% of net assets as permitted by SEBI regulations. 

The minimum application amount is Rs 10000 and in multiples of Re.1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge are not applicable for the scheme. 

The units of the scheme will be listed on NSE on allotment. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The scheme will be managed by Vikram Chopra and Richa Sharma. 
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