Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, announced collections of around Rs. 164 crores during the NFO of the Lotus India Fixed Maturity Plan - 375 Days - Series IV, which closed on 26 September 2007. 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. Lotus India Fixed Maturity Plan -375 Days- Series IV is a close-ended debt scheme. Scheme offered two plans i.e. Retail and Institutional and both plans offer two options i.e. Growth and Dividend Reinvestment. It was open for subscription from 12 September 2007 to 26 September 2007. The minimum application amount for Retail plan is Rs. 5000 and in multiples of Re 1 and for Institutional Plan is Rs 50 lakhs and in multiples of Re 1. Units will be available at Rs 10 each. The scheme does not charge any entry load but there is an exit load of 3% on investments if redeemed before maturity.
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