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Changes in fundamental attributes of L&T MIP - Wealth Builder Fund


L&T Mutual Fund has announced following changes in L&T MIP - Wealth Builder Fund, with effect from January 09, 2015:

Name of the scheme: The name of the scheme has been changed to L&T Equity Savings Fund. Now, it will be an open-ended equity scheme.

Investment Objective: The investment objective of the scheme is to invest primarily in arbitrage opportunities in cash and derivatives segment and to generate long term capital appreciation through unhedged exposure to equity and equity related instruments.

Asset Allocation Pattern: The asset allocation pattern has been changed to 65-90 per cent allocation in equity and related instruments and 10-35 per cent allocation in debt, money market instruments and government securities.

Fund Managers: In addition to Mr. Venugopal Manghat and Mr Vikram Chopra, Mr. Praveen Ayathan will also manage the fund.

The fund house has also announced dividend under the dividend option of L&T Tax Advantage-D and L&T Tax Advantage Direct-D. The quantum of dividend will be ₹ 2 per unit.

The record date has been fixed as December 12, 2014.