L&T Mutual Fund launches L&T FMP Series XX - Plan A

L&T Investment Management Limited today announced the launch of L&T FMP Series XX - Plan A with a duration of 1471 days from the date of allotment of units. This scheme is a close-ended debt scheme with an objective to seek to achieve growth of capital by investing in a portfolio of fixed income securities/debt instruments and government securities maturing on or before the maturity of the Plan.

L&T FMP Series XX - Plan A will be benchmarked against CRISIL Composite Bond Fund Index. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit and the issue opens for subscription on October 27, 2020 and closes on October 28, 2020.

Mr. Jalpan Shah is the fund manager for the scheme.

The minimum application amount for the scheme is Rs 5000 and in multiples of Re. 1 thereafter. The scheme will invest 90%-100% of its assets in debt instruments including government securities, state development loans, and invest up to 10% of assets in money market instruments with low to medium risk profile. Presently, there are two dividend options available under the scheme - Dividend (Payout) and Growth.

Mr. Kailash Kulkarni, Chief Executive, L&T Investment Management Ltd. said, "Long-term Fixed Maturity Plans offer investors multiple benefits including cushioning against interest rate volatility and credit risks. Investors who are looking for options in asset allocation and investing in tax efficient financial products for achieving long-term goals, may add this product to their portfolio."

The scheme does not intent to invest in securitized debt and structured obligation or credit enhancement, repo/reverse repo in corporate debt securities or in Foreign Securities (including foreign securitized debt). The scheme will not engage in securities lending or short selling and does not propose to invest in credit default swaps.

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Source : Equity Bulls

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