Larsen & Turbo Investment Management Limited reported the launch of a new product named ‘L&T FMP Series XX – Plan A’ with a term duration of 1471 days from the date of allotment of units. This scheme plan is a close-ended debt scheme conspire with a goal to look to accomplish development of capital by investing resources into a portfolio of fixed income securities or debt instruments and government securities maturing on or before the maturity at the very latest the development of the Plan.
L&T FMP Series XX – Plan A will be benchmarked against CRISIL (previously known as Credit Rating Information Services of India Limited) Composite Bond Fund Index. The New Fund Offer (NFO) cost for the plan is Rs 10 for every unit. Mr. Jalpan Shah is the fund manager for the scheme plan.
The least application sum for the plan is Rs 5000 and in multiples of Re. 1 thereafter. The plan will put 90%-100% of its resources owing debtors instruments including government securities, state development loans, and put up to 10% of assets in money market instruments with low to medium risk profile. Currently, there are two dividend choices accessible under the plan – Dividend (Pay-out) and Growth.
Mr. Kailash Kulkarni, Chief Executive, Larsen & Turbo Investment Management Ltd. stated that Long-Term Fixed Maturity Plans offer the financial investors different advantages including cushioning against interest instability and credit risks. Financial specialists who are searching for alternatives in asset allocation and investing resources into tax effective money related products for accomplishing their long term objectives, financial investors can add this item to their portfolio.
The L&T FMP Series XX – Plan A doesn’t intend to put investment resources into securitized debt and structured obligation or credit upgrade, repo or reverse repo in corporate debt securities or in Foreign Securities (counting unfamiliar securitized debt). The scheme plan won’t participate in securities loaning or short selling and doesn’t propose to invest resources into credit default trades.
