Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, announced the launch of its Closed-Ended Debt Scheme: Lotus India Fixed Maturity Plan -375 Days - Series II.
The objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.
Lotus India Fixed Maturity Plan - 375 Days - Series II offers two plans i.e. Retail and Institutional and both plans offer two options i.e. Growth and Dividend Reinvestment. It is open for subscription from 6 July 2007 and will close on 25 July 2007.
The minimum application amount for Retail plan is Rs 5000/- and in multiples of Re 1 and Institutional Plan is Rs 5,000,000 and in multiples of Re 1 thereafter. Units will be available at Rs 10 each. The scheme does not charge any entry load but there is an exit load of 2.00 % on investments if redeemed before 361 day from the date of allotment.
The scheme will invest in money market instruments including reverse repo - 0-100%; government securities issued by the central government and/or state government(s) - 0-50%; debt instruments such as bonds and debentures - 0-100% and securitised debt - 0-50%.
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