L&T Mutual Fund FMP – Series XVIII – Plan A NFO opens for subscription from September 25, 2018, to September 27, 2018. The close-ended debt scheme has a tenure or maturity period of 1104 days from the date of allocation.
The investment objective of the L&T FMP – Series XVIII – Plan A (1104 days) scheme is to generate capital growth by investing in debt/ fixed income instruments (including money market securities), ac government instruments and state development loans maturing on or before the maturity date of the plan.
The L&T Mutual Fund scheme will invest 90 percent to 100 percent of its assets in debt securities, government instruments, and state development loans with low to medium risk profile. The scheme will further invest up to 10 percent of its assets in money market securities with low to medium risk profile.
The Fixed Maturity Plan aims to gather a minimum subscription amount of 20 crore Rupees under the scheme during the L&T Mutual Fund FMP – Series XVIII – Plan A NFO period.
The minimum application amount for the FMP – Series fund is 5000 Rupees and in multiples of one Rupee thereafter. There will be no entry load and exit load charges for the scheme.
The L&T FMP – Series XVIII – Plan A provides both Regular and Direct Plans with Growth and Dividend Payout Options.
The L&T FMP – Series XVIII – Plan A (1104 days) scheme is benchmarked against CRISIL Composite Bond Fund Index. The fund house has appointed Jalpan Shah and Vikas Garg as the fund managers of the scheme, according to KJMC.
L&T Mutual Fund offers L&T Mutual Fund FMP – Series XVIII – Plan A NFO from September 25, 2018, to September 27, 2018, on BSE StAR MF Platform, according to the notice dated September 24, 2018, available on the official website of BSE. The L&T Asset Management Company confirmed that the allotment for the above-mentioned scheme will be done immediately on the next business day on September 28, 2018.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]