NFO period is from 22 January to 30 January 2015
L&T MF has unveiled a new fund named as L&T Resurgent India Corporate Bond Fund, an open ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 22 January and closes on 30 January 2015.
The investment objective of the scheme is 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.
The scheme offers growth and dividend (payout & re-investment) options under both non-direct plan and direct plan.
The scheme shall invest 80-100% in corporate debt instruments* including securitized debt and up to 20% in money market instruments with low to medium risk profile. *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.
The minimum application amount is Rs 5000 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 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%
After 3 years from the date of allotment: Nil.
Benchmark index for the scheme is CRISIL Composite Bond Fund Index.
The scheme will be managed by Shriram Ramanathan.
L&T MF has unveiled a new fund named as L&T Resurgent India Corporate Bond Fund, an open ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 22 January and closes on 30 January 2015.
The investment objective of the scheme is 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.
The scheme offers growth and dividend (payout & re-investment) options under both non-direct plan and direct plan.
The scheme shall invest 80-100% in corporate debt instruments* including securitized debt and up to 20% in money market instruments with low to medium risk profile. *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.
The minimum application amount is Rs 5000 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 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%
After 3 years from the date of allotment: Nil.
Benchmark index for the scheme is CRISIL Composite Bond Fund Index.
The scheme will be managed by Shriram Ramanathan.
