Mumbai, Nov 12, (UNI) Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, announced the launch of its Closed-Ended Debt Scheme: Lotus India Fixed Maturity Plan 375 Days Series V.
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, a release said.
The plan is designed to cater to investors, who are looking at alternatives to a traditional fixed deposit and who have an investment horizon of around a year.
Lotus India Fixed Maturity Plan 375 Days Series V offers two plans i.e. Retail and Institutional and both plans offer two options i.e. Growth and Dividend Reinvestment. It opened for subscription from today and will close on November 20.
The minimum application amount for Retail plan is Rs 5000/- and in multiples of Re 1/- and Institutional Plan is Rs 5,000,000 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 3.00 percent on investments if redeemed before maturity.