Lotus India launches new funding scheme

Mumbai, Sep 17: Lotus India AMC, announced the launch of its closed-ended debt scheme, Lotus India Fixed Maturity Plan- 3 Month - Series XVIII.

The scheme offers two options - growth and dividend reinvestment and will open for subscription from September 17 and close on September 24. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter, with units available at Rs 10 each.

The scheme has no entry load, but has an exit load of 0.75 per cent on investments if redeemed before the maturity date, a company release stated.

The scheme plans to generate income by investing in a portfolio of debt and money market instruments.

Lotus India AMC is a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, the release added.

UNI