L&T Mutual Fund has launched a new fund as L&T Business Cycles Fund, an open ended equity scheme. The investment objective of the scheme is to seek to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities, including equity derivatives, in the Indian market with focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
The New Fund Offer (NFO) will be open for subscription from July 30 and closes on August 13, 2014. The New Fund Offer price for the scheme is Rs 10 per unit.
The scheme offers growth & dividend (reinvestment / payout) option.
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter.
The entry load is nil for the scheme. The exit load will be 1% of applicable NAV (for purchases (including SIP) during the NFO period and ongoing offer period) if redeem within 18 months from the date of allotment or purchase applying first in first out basis.
The scheme will allocate 65%-100% of its assets in equity and equity related securities (including Indian and foreign equity securities as permitted by SEBI/RBI) with high risk profile and invest upto 35% of its assets in debt and money market instruments with low to medium risk profile.
The benchmark index for the scheme is S&P BSE-200 Index.
The scheme will be managed by Venugopal Manghat and Abhijeet Dakshikar (for foreign securities).
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