MUTUAL FUNDS
L&T MF introduces Nifty 50 Index Fund
Mar-24-2020

L&T Mutual Fund (MF) has launched the L&T Nifty 50 Index Fund, an open-ended Equity Scheme tracking Nifty 50 Index. The NFO opens for subscription on March 24, 2020 and closes on March 31, 2020. Entry load will be nil. Exit load will be nil, if the units redeemed or switched out are up to 10% of the units purchased or switched in (‘the limit’) within 1 year from the date of allotment. If units redeemed or switched out are over and above the limit within 1 year from the date of allotment the exit load will be 1%, and the exit load will be nil if units are redeemed or switched out on or after 1 year from the date of allotment. The minimum subscription amount is Rs 5000.

The scheme’s performance will be benchmarked against its performance to Nifty 50 Index TRI and its fund manager is Praveen Ayathan.

The investment objective of the scheme is to achieving returns equivalent to the Total Returns Index of Nifty 50 index by minimizing the performance difference between the benchmark index and the scheme. The Total Returns Index is an index that reflects the returns on the index from index gain/ loss plus dividend payments by the constituent stocks.

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