L&T MF Floats 90 Days Fund

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L&T MF Floats 90 Days Fund
L&T Mutual Fund has launched a new close ended income scheme with a duration of 90 days named as L&T FMP - IV (June90D A), which will mature on September 20, 2011. The scheme's New Fund Offer (NFO) price is Rs 10 per unit. The subscription for the new issue will open on June 21, 2011 and will close on June 22, 2011.

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

Regarding the asset allocation, 100% of the assets would be allocated in debt and money market instruments with low to medium risk profile.

However, there will be no entry and exit load structure. The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. Meanwhile, the fund during the NFO period seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme.

Last month, L&T Mutual Fund had launched a new close ended income scheme with a duration of 366 days named as L&T FMP - III (June366D A). The scheme will mature on June 14, 2012. The scheme's New Fund Offer (NFO) price is Rs 10 per unit. The subscription for the new issue opened on June 3, 2011 and closed on June 14, 2011.

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.

Regarding the asset allocation, 100% of the asset would be allocated in debt and money market instruments with low to medium risk profile. The minimum application amount was Rs 5000 and in multiples of Rs 10 thereafter.

Read more about: mutual funds, fmp, investment
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