Lotus India AMC Unveils AGILE Fund

Mumbai: Lotus India Asset Management Company has declared an open-ended equity scheme called Lotus India AGILE fund, a quant-based mutual fund scheme. The fund, which is priced at Rs 10 per unit will open for subscription from October 25 and close on November 23. The fund will invest in 90-100 per cent in equity and equity-related instruments and 0-10 percent in debt and money market instruments. The fund targets to generate capital appreciation by infusing in a passive portfolio of stocks selected from industry leaders on the basis of a mathematical model and offer growth, dividend payout and dividend reinvestment options.

Out of the total corpus, 9 per cent will be invested in each of the 11 stocks and one per cent will be kept in money market instruments. The benchmark index for the fund is the S&P CNX Nifty. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter, and in case of additional purchase the application amount is Rs 1,000 and in multiples of Rs 1 thereafter, and the minimum redemption fee is Rs 1,000 or 100 units.The entry load is 2.25 per cent where the purchase amount is less than Rs 5 crore.