Lotus India Mutual Fund has launched its maiden fund: Lotus India Liquid Fund. It is an open-ended cash fund.
The fund will invest up to 100 per cent of its assets in money market instruments (including cash and reverse repo) and debt instruments with residual maturity of less than 183 days. The investments in debt instruments with residual maturity greater than 182 days will not exceed 50 per cent of the portfolio. The scheme also plans to invest up to 35 per cent of its assets in foreign debt instruments.
The scheme offers three plans with varying expense structures. The Regular Plan will charge annual recurring expenses of 1.25 per cent, while the Institutional and the Institutional Plus plans will charge 1 per cent and 0.80 per cent, respectively.
Snapshot
Offer opens: November 13
Offers closes: November 16
Plans: Regular, Institutional, Institutional Plus
Options: Dividend (payout and reinvestment) and Growth
Minimum Investment
Regular: Rs 10,000
Institutional: Rs 1 crore
Institutional Plus: Rs 10 crore
Benchmark Index: CRISIL Liquid Fund Index
Fund Manager: Mr. Umesh Sharma
Load Structure: Would not charge any entry or exit load
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