L&T Mutual Fund files offer document for its L&T Resurgent India Corporate Bond Fund.
L&T Mutual Fund has filed a draft offer document with SEBI for its open ended income scheme called – L&T Resurgent India Corporate Bond Fund.
The scheme aims to generate income by investing primarily in debt and money market securities of fundamentally strong corporates or companies in growth sectors which are closely associated with the resurgence of domestic economy, with a flexibility to follow more conservative investment approach during economic downturns.
The scheme will be investing 65%-100% in corporate debt instruments including securitized debt and up to 35% in money market instruments and government securities. The exit load if redeemed on or before 1 year from the date of allotment will be 2%, if redeemed after 1 year but on or before 2 years from the date of allotment will be 1.5% and after 2 years but on or before 3 years from the date of allotment will be 1%.
The benchmark of the scheme is CRISIL Composite Bond Fund Index. The fund will be managed by Shriram Ramanathan.
