L&T MF Floats 368 Days Fund

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L&T MF Floats 368 Days Fund
L&T Mutual Fund has launched a new fund named as L&T FMP - VI (June368D A), a close ended income scheme having a tenor of 368 days. It would mature on 24 June 2013.

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

Allocation of Funds:
The scheme would allocate up to 100% of assets in debt and money market instruments with low to medium risk profile. Debt instruments may include exposure in derivatives, either exchange traded or OTC which can be upto 50% of net assets as permitted by SEBI regulations.

Basic Details:
NFO Opens: June 15, 2012
NFO Closes: June 21, 2012
NFO: Rs 10 per unit
Listing: NSE
Benchmark: CRISIL Short Term Bond Fund Index.
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 thereafter.
Manager: Ms. Richa Sharma and Mr. Hareshwar Karekar.

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Read more about: mutual funds
Story first published: Saturday, June 16, 2012, 12:58 [IST]
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