L&T MF Floats 5 Months Fund

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L&T Mutual Fund has launched a new a close ended income scheme named as L&T FMP - I (July5M A). The scheme's New Fund Offer (NFO) price is Rs 10 per unit. The new issue opens & closes for subscription on July 22, 2010. The scheme's investment objective would be to achieve capital growth through investments made in a basket of debt / fixed income securities maturing on or before the scheme's maturity.
The duration of the scheme is 5 months.
The scheme offers two options - growth and dividend (payout) option.
Further, the scheme would allocate up to 100% of assets in debt and money market instruments with low to medium risk profile. Moreover, the debt instruments may include securitized debt up to 100% of the net assets & exposure in derivatives, either exchange traded or OTC, up to 100% of Net Assets as permitted by SEBI regulations.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. Meanwhile, the fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
However, there will be no entry and exit load charge for the scheme.

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