Lotus India Asset Management Company, a joint venture
between Fullerton Fund Management Group (wholly owned
by Temasek Holdings Pte. Ltd., Singapore) and Sabre
Capital Worldwide, has launched its open-ended equity
linked savings scheme, Lotus India Tax Plan.
The plan aims to generate long-term capital growth from
a diversified portfolio of predominantly equity and
equity related securities. The investments made under
this scheme will have a lock-in for a period of three
years. The new fund offer priced at Rs10 per unit (plus
applicable load) will be open for purchase from 20 November,
2006, to 5 December, 2006, and re-open for ongoing purchases
and redemptions from January 1, 2007.
Speaking about scheme, Ajay Bagga, chief executive officer,
Lotus India AMC says, "We aim to be present in
every product category and provide all segments of our
investors with a well-diversified investment portfolio.
Lotus India Tax Plan will offer retail investors the
unique opportunity to invest in a market-linked product
and also avail tax benefits."
India Asset Management Company Private Limited (Lotus
India AMC) is a joint venture between Fullerton Fund
Management Group (Fullerton) and Sabre Capital Worldwide.
Alexandra Fund Management (AFM), the sponsor of Lotus
India AMC, is an affiliate of Fullerton (both Fullerton
and AFM are wholly owned by Temasek Holdings Pte Ltd,
India AMC having received the regulatory approval from
SEBI for launching its Mutual Fund operations, has recently
announced the launch of its maiden offering the Lotus
India Liquid Fund. With over 120 employees,
across 36 locations and over 5500 distributor tie-ups,
Lotus India AMC has established a wide footprint across