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Mumbai, Nov. 12 Lotus India AMC, a joint venture between Sabre Capital and Fullerton Fund Management Group, announced the launch of its close ended debt scheme: Lotus India Fixed Maturity Plan - 375 days- Series V.

The scheme offers two plans, retail and institutional, both offer two options, growth and dividend reinvestment.

It opened for subscription on November 12 and closes on November 20. The plan will cater to investors who are looking at options other than the traditional fixed deposit and who have an investment horizon of around a year.

The minimum application amount for retail plan is Rs 5,000 and in multiples of Re 1. The minimum application for the institutional plan is Rs 50,00,000 and in multiples of Re.1. The units will be available at Rs 10 each.

There is no entry load but there is an exit load of three per cent on investments if redeemed before maturity.

The aim of this scheme is to produce income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.

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