L&T MF unveils Floats 90 Days Fund

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L&T MF Floats 90 Days Fund
L&T Mutual Fund has launched a new fund named as L&T FMP - VI (April90D A), a close ended income scheme with the duration of 90 days. The scheme will mature on 7 July 2012.

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 fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Allotment of investment
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 Price: Rs 10 per unit
NFO Opens: April 30 2012
NFO Closes: May 2, 2012
Options: Growth and Dividend Payout
Benchmark: CRISIL Liquid Fund Index.
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 thereafter.
Exit Load: NIL


Read more about: mutual funds, nfo
Story first published: Monday, April 30, 2012, 11:30 [IST]
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