Lotus India Mutual Fund has filed an offer document for Lotus India AGILE Tax Fund. It is a closed-ended equity linked saving scheme with maturity of 10 years. The new fund offering (NFO) for the scheme is Rs. 10. The fund house seeks to collect a minimum subscription of Rs. 50 lakh for the scheme. The minimum application amount under regular plan is Rs. 500 and in multiple of Re 500 thereafter.
The scheme offers investors a growth option and a dividend option. The dividend option offers dividend payout and dividend reinvestment facilities.
The investment objective of the scheme is to generate capital appreciation through investment in equity and equity related instruments. The scheme will seek to generate capital appreciation by investing in a passive portfolio of stocks selected from the industry Leaders on the basis of a mathematical model.
The scheme does not charge any entry as well as exit load for the scheme. But, on redemption before maturity of the scheme, investors will be charged balance proportionate unamortized issue expenses on the applicable NAV. Whereas redemption/switch out will not be allowed during the lock-in period of 3 years from the date of allotment.
The fund will invest 90%-100% in equity and equity related instruments with up to 50% of net asset of the scheme expose to the derivatives. The fund will invest 0%-10% in money market instrument.
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