L & T Mutual Fund Launches : L & T M I P- Wealth Builder Fund
L&T Mutual Fund announced the launch of L & T MIP- Wealth Builder Fund, an Open Ended Income Scheme by further expanding the investment options it offers to its investors.
L & T MIP- Wealth Builder Fund is an Income Scheme with a debt exposure of 70% – 100% and equity exposure can be up to 30%.
The Scheme also offers SIP facility with a minimum amount of Rs 1000 per application.
Mr. N Sivaraman, President, L&T Finance Holdings Limited said, “In this current challenging environment where the risk of rising interest rates has increased and global markets seem to be volatile, we believe that L&T MIP-Wealth Builder Fund would be a product that could offer risk adjusted returns and can serve as an alternative under fixed income products”.
Fixed Income allocation of the scheme could be invested in CD’s, CP’s, government securities, money market and other debt instruments which endeavor to generate returns while moderating credit & interest rate risk.
Mr. Ved Prakash Chaturvedi, Chief Executive ( Capital Markets & Investment Management Group), L & T Finance Holdings Limited said, “The mutual fund industry in India has a very bright future and great opportunity. With our focus on client centricity, long term product performance and highest standards of governance, L & T Mutual Fund is well poised to be an important player in this growing industry. L & T MIP - Wealth Builder Fund is a right product in the current market environment for our investors”.
The scheme could be suited for those investors who are keen on taking possible advantage of the interest rate movement and the possible opportunity in the current equity markets.
The details of the Scheme are | |
NFO Launches on | Sep 27, 2011 |
NFO Closes on | Oct 11, 2011 |
Minimum Application amount For Monthly Dividend Option & Quarterly Dividend Option: | A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter. |
Minimum Application amount: For Growth Option: | A minimum of Rs. 5,000/- per application and in multiples of Re. 1/- thereafter |
Minimum SIP Amount | Rs 1000 |
SWP/ STP facility | Available post NFO |
Exit Load: | 1% if redeemed ≤ 1 year; Nil - if redeemed > 1 year |
Asset allocation* | Debt, Money Market Instruments, Govt. Securities (including CBLO / Reverse Repo) 70 – 100%, Equity & Equity related instruments 0 – 30% |
Benchmark: | CRISIL MIP Blended Fund Index |
About L&T Mutual Fund
L & T Mutual Fund is backed by one of the trusted and valued brands L & T Finance Ltd., incorporated as Non Banking Finance Company in November 1994. L & T Finance Ltd. has earned the trust of thousands of investors by adapting well to the changing market dynamics.
L & T Mutual Fund serves the investment needs of investors through a suite of mutual fund schemes. With proficient investment management practices and an equally competent fund management team, L & T Mutual Fund endeavours to enable its investors reach their financial goals. L&T Mutual Fund is present in 56 cities through its network of dedicated 58 branches.
website www.lntmf.com.
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