Widely read:
Lotus India Mutual Fund has come out with a three-year close ended equity fund called Lotus India Infrastructure Fund. This fund would automatically be converted into an open ended fund after the expiry of three years from the date of allotment.
The scheme endeavors to generate long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of infrastructure companies.
The fund would adopt bottom up approach where the focus would be on specific company rather than on the industry in which that company operates or on the economy as a whole.
Between 65 to 100% of the portfolio allocation will be in equity and equity- linked instruments of companies engaged in infrastructure sector. Debt securities and money market instrument will comprise of 0 to 35% of the portfolio.
Snapshots:
Issue Opens: September 25, 2007
Issue Closes: October 24, 2007
Investment Options: Growth, Dividend Payout and Reinvestment
Minimum Investment: Rs 5000
Face Value: Rs 10
Load: The fund would not charge any entry or exit load. But, on redemption before maturity of the scheme, investors will be charged balance proportionate unamortized issue expenses on the applicable NAV.
Benchmark Index: S&P CNX 500
Fund Manager: Tribid Pathak and Sanjay Chhabaria
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