Lotus has launched its first interval fund, Lotus India Arbitrage Fund. The equity-oriented fund aims to generate income by cashing in on arbitrage opportunities emerging out of pricing mismatch between the cash market and the derivatives market. The surplus cash will be deployed in fixed income securities.
The maximum exposure to equity and equity-related instruments, including derivatives, will be up to 80 per cent of the portfolio. The maximum portion in debt and money market instruments will be up to 35 per cent.
The number of stocks in the portfolio would be around 20-50.
Snapshot
Fund opens: April 10, 2007
Fund closes: April 20, 2007
Face Value: Rs 10
Fund manager: Sailesh Jain
Minimum amount: Rs 5,000
Options: Growth, Dividend payout and reinvestment
Benchmark: Crisil Liquid Fund Index
Entry load: Nil
Exit load: 2 per cent for investments up to Rs 2 crore if redeemed within 180 days and 0.50 per cent for investments above Rs 2 crore if redeemed within 90 days.
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