Lotus India Mutual Fund has filed an offer document for Lotus India Quarterly Interval Fund. These are Debt oriented Interval Scheme. The new fund offering (NFO) for the scheme is Rs. 10. The scheme seeks to collect Rs 50 lakhs in each plan as the minimum subscription amount. There are four plans under the scheme namely A, B, C, D, E, and F. Each plan shall maintain separate portfolio.
The minimum investment amount is Rs 5000 and in multiple of Re 1 thereafter. The minimum additional investment amount is Rs 1000 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.
There is no entry load for the scheme however, there will be an 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 securities issued by the central government and/or state government(s) 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 (excluding foreign securitised debt) will be up to 50% of net of the scheme. Investment in derivatives will be up to 50% of the net assets of the scheme.
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