Lotus India Overnight Fund

Lotus AMC has launched a new fund called Lotus India Overnight Fund which is an open ended, liquid scheme.

Investment Objective: The fund aims to provide investors with higher level of liquidity and safety. The corpus of the fund would be predominantly deployed in overnight instruments with some allocation to short term securities having maturity upto 91 days. The average portfolio duration will normally be upto 15 days.

Asset Allocation: The fund may invest upto 70% in reverse repo, debt instruments, including floating rate instruments, with overnight maturity/ daily put/call option and upto 30% in debt & money market instruments with residual maturity of upto 91 days.

NFO Opens: September 12, 2007
NFO Closes: September 13, 2007
Face Value: Rs 10

Investment Options: Growth and Dividend Reinvestment

Minimum Investment Amount: Rs 5000

Load: The fund would neither charge an entry load nor an exit load

Benchmark Index: Crisil Liquid Fund Index