L&T Interval Fund files offer document with SEBI

Posted By: Religare
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L&T Interval Fund files offer document
L&T Mutual Fund has filed documents with SEBI for launching the new funds named as L&T Interval Fund - Quarterly Plan - Series I and L &T Interval Fund - Half Yearly Plan - Series I. The schemes are the close debt oriented interval scheme. The New Fund Offer (NFO) price for the schemes is Rs. 10 per unit.

Entry load is nil and exit load charge will not be applicable in the scheme as per the circulation of SEBI and since the scheme is planned to be list on stock exchange hence there will be no exit load in plan. The performance of quarterly plan will be standardized against CRISIL Liquid Fund Index, while the performance of the half yearly plan will be standardized against the CRISIL Short Term Bond Fund Index.

The two options are available under the Plan of the Scheme viz. growth and Dividend payout option. Dividend Payout is the only facility available under the Dividend Option. Growth Option shall be the default option under the Plan of the Scheme. The minimum application amount is Rs. 5,000 and in multiples of Rs. 10 thereafter. Ms. Richa Sharma and Mr. Hareshwar Karekar shall be be the Fund Manager for the scheme.

The asset allocation of scheme will be in such a way that the objective of the schemes to protect the capital will be met but with minimum risk through investments in high quality debt and money market instruments. Hence schemes would allocate 65 per cent to 100 per cent of its assets in Debt and money market instruments and the scheme will also use derrivatives instruments to allocate 0 per cent to 50 per cent of its assets

Story first published: Wednesday, July 27, 2011, 12:41 [IST]
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