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Mumbai, Nov. 19 Lotus India AMC has launched the country’s first ever Quant-based ELSS scheme, Lotus India Agile tax Fund (Alpha Generated from Industry Leaders Fund).

The new fund offer (NFO) is priced at Rs 10 per unit and the fund is open for purchase from November 15, and closes on February 15.

Lotus India Agile Tax Fund is a closed ended equity linked savings scheme with a maturity of 10 years that will invest in 11 stocks (9 per cent each) determined by a mathematical model.

The portfolio will be reviewed and reset every month. The fund will invest between 90-100 per cent in equity and equity related instruments and between 0-10 per cent in debt and money market instruments.

The fund offers two options — growth and dividend options. The dividend option offers dividend payout and dividend re-investment facilities. Investments made under this scheme will have a lock-in for a period of three years.

The objective of this scheme is to generate capital appreciation by investing in a passive portfolio of stocks selected from the industry leaders on the mathematical model designed by the LIAMC Team.

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