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Lotus India AMC has launched an open-ended diversified equity scheme called Lotus India Equity Fund.

The fund will invest 70-100 per cent in equity and 0-30 per cent in debt and money market instruments.

Maximum exposure to the derivatives shall not exceed 50 per cent of the net assets of the scheme. NFO opened for subscription on August 16 and the issue closes on September 7. The minimum one-time investment is Rs 5, 000 and multiplies of Re 1.

ICICI Prudential Mutual Fund has notified the maximum estimated recurring expenses for ICICI Prudential Long Term Plan. The maximum recurring expenses that can be charged to the scheme shall be subject to a percentage limit of weekly n et assets.

The slab will be 2.25 per cent for the first Rs 100 crore, 2 per cent for the next Rs 300 crore, 1.75 per cent for the subsequent Rs 300 crore and 1.50 per cent for assets over Rs 700 crore. Expenses over any above the prescribed limit will be borne by the fund house.

This change will be effective from September 4, or upon receipt of consent from investors under the scheme, whichever is earlier.

More Stories on : New Fund Offer | Mutual Funds

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