Lotus India Mutual Fund has rolled out Lotus India Fixed Maturity Plan -3 Month - Series XIII. It is closed-ended debt scheme. The issue will open for subscription from 9 July and close on 26 July 2007. The tenure of the scheme is 90 days from the date of allotment. Issue price will be Rs 10 each unit. The scheme offers two options i.e. growth and dividend reinvestment.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. As it is a close-ended scheme there will not be any entry load. There is an exit load of 0.75% on investments if redeemed before the maturity date. The primary 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.
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