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Lotus India Contra Fund


After the ELSS and now, along with the mid-cap offering, Lotus India AMC has another NFO - the Lotus India Contra Fund. Unlike the mid-cap fund, this one is an open-ended diversified equity fund. Both will be handled by the same fund manager - Tridib Pathak.

The Scheme will seek to generate capital appreciation through means of contrarian investing. Contrarian investing, as defined by the AMC, involves picking 'neglected stocks' with strong asset values as well as focusing on high potential under-owned sectors. The aim is to have a first mover advantage by investing into out-of-favour sectors/stocks thus increasing out-performance prospects. This can be done by monitoring stock/sector ownership and relating it to the fundamentals of the sector with an objective to get out of over-owned stocks and get into under-owned ones.

The equity component will range between 65% - 100% of the portfolio while the debt component will range from 0% to 35%.

Snapshot
Fund opens: February 15, 2007
Fund closes: March 15, 2007
Re-opens for continuous sale and repurchase: On or before April 13, 2007
Cost per unit: Rs 10
Fund manager: Tridib Pathak
Minimum amount: Rs 5,000
Options: Growth, dividend payout, dividend reinvestment
Benchmark: BSE 500
Entry load: 2.25%
Exit load:
- If redeemed after a year from allotment: Nil
- If redeemed before a year from date of allotment: 0.6%
- If redeemed before 6 months from date of allotment: 1%