Mutual Fund Lotus India Mutual Fund
Scheme Name Lotus India AGILE Fund
Objective of Scheme To generate capital appreciation through investment in equity and equity related instruments. The Scheme will seek to generate capital appreciation by investing in a passive portfolio of stocks selected from the industry Leaders on the basis of a mathematical model.
Scheme Type Open Ended
Scheme Category Growth
New Fund Launch Date 25-Oct-07
New Fund Earliest Closure Date 23-Nov-07
New Fund Offer Closure Date 23-Nov-07
Indicate Load Separately
Entry Load : Where purchase amount is less than Rs. 5 Crores - 2.25% Where purchase amount is equal to or greater than Rs. 5 Crores - Nil Exit Load : if redeemed on or before the expiry of 6 months from the date of allotment - 1% if redeemed after six months and on or before the expiry of 1 year from the date of allotment - 0.6% if redeemed after the expiry of 1 year from the date of allotment - Nil
Offer Price (Rs.) 10
Minimum Subscription Amount Rs. 5,000/- per application
This is a first of its kind QUANT fund in India.This fund will operate on a preset quantitative formula with minimum fund manager intervention.We have to wait and see how this performs over a period of time.
The cost of holding the fund should be lesser as compared to diversified equity as this will be a passive fund.
It will be interesting to see how quant and index funds perform in a market dominated by active funds. Actively managed funds have not been able to meet the indices for a couple of years now and it will be interesting to see the future trends.