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Mutual Fund News
Dec 4 2007 9:46AM
Lotus India mops up Rs. 527 crore from two FMP
Lotus India Asset Management Company Private Limited, a joint venture between Fullerton Fund Management Group (wholly owned by Temasek Holdings Pte. Ltd., Singapore) and Sabre Capital Worldwide, has announced collections of around Rs. 527 crore during the NFOs of the Lotus India Fixed Maturity Plan 3 Months Series XXI, and Lotus India Fixed Maturity Plan 1 Months Series III. Lotus India Fixed Maturity Plan 1 Months Series III, whose NFO was open for one day i.e. 22 November 2007 has collected Rs. 297 crore during its NFO period. Lotus India Fixed Maturity Plan 3 Months Series XXI which closed on 26 November 2007, has garnered Rs. 230 crore during the NFO period.

Both schemes seek to generate 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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