Lotus India Mutual Fund has filed an offer document for Lotus India FMP -3 Months-Series XXI to XXVI. These are close-ended debt schemes. The new fund offering (NFO) for the scheme is Rs. 10. The fund house seeks to collect a minimum corpus of Rs. 1 crore for the scheme. The minimum investment amount is Rs 5000 and in multiple of Re 1 thereafter.
The scheme offers investor's two options - dividend reinvestment option and growth option. 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. The scheme being a close ended will not charge any entry load. There will be exit load of 1% under each plan, if investment is redeemed before maturity period. The scheme will invest up to 0-100% in money market instruments including reverse repo. The investment in government in securities will be 0%-50% of the net assets. The investment in debt instrument which includes bonds and debentures will be up to 0% - 100% of the net asset. Whereas investment in securitised debt will be up to 50% of net of the scheme.
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