The Hindu Business Line : Lotus India launches contra, mid-cap funds

NEW LAUNCH: Mr Tridib Pathak (left), Chief Investment Officer Equity, Lotus India Asset Management Co Pvt Ltd, and Mr Ajay Bagga, Chief Executive Officer, at a press conference on the launch of its new schemes in Mumbai on Monday. - Shashi Ashiwal

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Mumbai Feb. 12 Lotus India Mutual Fund has launched two new funds: Lotus India Contra Fund and the Lotus India Mid Cap Fund.

The Lotus India Contra Fund is an open-ended equity fund which aims to generate capital appreciation through the contrarian style of investing.

This involves investing into stocks which are not the favourite of the day but have growth potential.

The Lotus India Contra Fund will invest 65-100 per cent of its corpus in equity and equity related instruments and 0-35 per cent in debt and money market instruments.

The Lotus India Mid Cap fund is a close-ended equity fund with a maturity of 3 years and will invest in a portfolio that predominantly consists of equity and equity related instruments.

The fund will invest 65-100 per cent in equity and equity related instruments, of which 65-100 per cent could be in mid cap companies and 0-35 per cent in debt and money market instruments.

Both schemes will be open for subscription from February 15 to March 15 and the contra fund will reopen for ongoing purchase/redemption on or before April 13.

The mid-cap fund will invest in stocks whose market capitalization is between Rs 250-Rs 5,500 crore.

The funds will offer two options — growth and dividend — and the minimum investment amount for the funds is Rs 5,000.