L&T Mutual Fund has launched L&T MIP-Wealth Builder Fund, an open-ended income scheme by expanding the investment options it offers to its investors, Financial Chronicle reported.
The new issue will open for subscription from September 27 and close on October 11, 2011. This L&T MIP-Wealth Builder Fund is an income scheme with a debt exposure of 70-100% and equity exposure can be up to 30%.
In this current challenging environment where the risk of rising interest rates has increased and global markets seem to be volatile, we believe that L&T MIP -Wealth Builder Fund would be a product that could offer risk adjusted returns and can serve as an alternative under fixed income products,” said, N Sivaraman- President and Whole Time Director on the launch of the new fund.
The fixed income allocation of the scheme will be invested in CD’s CP’s, government securities, money market and other debt instruments which endeavour to generate returns while moderating credit and interest rate risk. “The mutual fund industry in India has a very bright future and great opportunity.
With our focus on client centricity, long term product performance and highest standards of governance, L&T Mutual Fund is well poised to be an important player in this growing industry. L&T MIP - Wealth Builder Fund is a right product in the current market environment for our investors”, said Ved Prakash Chaturvedi, chief executive Capital Markets & Investment Management Group, L&T Finance Holdings Limited.
This open-ended scheme could be suited for those investors who are interested on taking possible benefit of the interest rate movement and the possible opportunity in the current equity markets.
L&T Mutual Fund is backed by one of the trusted and valued brands L&T Finance Ltd., incorporated as non banking finance company in November 1994. L&T Finance Ltd. has earned the trust of thousands of investors by adapting well to the changing market dynamics.
The Scheme also offers SIP facility with a minimum amount of Rs 1000 per application. It is one of the premier mutual funds in India serving the needs of investors through a suite of acclaimed mutual fund schemes.
With world-class investment management practices and competent fund management team, L&T Mutual Find helps its investors reach their financial goals.
