L&T Mutual Fund has filed an offer document with SEBI to launch L&T Mutual Fund Infrastructure Debt Fund – Series I.
The investment objective of the scheme is to generate appreciation in capital by investing in various permissible instruments/securities belonging to the infrastructure sector.
The scheme will offer dividend option with payout facility and growth option. The fund manager will be Shobheta Manglik.
The scheme will invest a minimum of 90% of its total assets in
- debt securities or securitized debt instruments of infrastructure companies, or
- infrastructure capital companies, or
- infrastructure projects or special purpose vehicles which are created for the purpose of facilitating or promoting investment in infrastructure, and other permissible assets in accordance with these regulations, or
- Bank loans in respect of completed and revenue generating projects of infrastructure companies or projects or special purpose vehicles.
The scheme will allocate a maximum of 10% of its total assets in
- Equity shares, convertibles including mezzanine financing instruments of companies engaged in infrastructure, or
- Infrastructure development projects, whether listed on a recognized stock exchange or not, or
- Money market instruments, or
- Bank Deposits
The benchmark for the scheme will be CRISIL Composite Bond Fund Index.
