Lotus India AMC Unveils New Scheme

MUMBAI: Lotus India AMC on May 25, declared the unveil of its close-ended debt scheme, Lotus India Fixed Maturity Plan-3 months-Series IX. The scheme targets at generating income by investing in a portfolio of debt and money-market instruments normally maturing in line with the duration of the scheme. The plan offers two options growth and dividend reinvestment. It is open for subscription from May 24 and will close on May 28. The minimum application amount is Rs 5,000. Units will be available at Rs 10 each. There is no entry load but there is an exit load of 0.75 per cent on investments if redeemed before the maturity date.