L&T Mutual Fund has launched the L&T FMP-Series XV-Plan A, a close ended income scheme. The NFO opens for subscription on March 29, 2017 and closes on March 29, 2017. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The scheme’s performance for Plan A will be benchmarked against CRISIL Composite Bond Fund Index, for Plans-B and C if the tenure is up to 3 months will be benchmarked against CRISIL Liquid Fund Index, if the tenure is above 3 months and up to 36 months will be benchmarked against CRISIL Short Term Bond Fund Index, and if the tenure is above 36 months up to 66 months, it will be benchmarked against CRISIL Composite Bond Fund Index and its fund manager is Jalpan Shah.
The investment objective of the scheme is to achieve growth of capital through investments made in a basket of debt/ fixed income securities (including money market instruments) maturing on or before the maturity of the Scheme.