L&T Mutual Fund has launched a new fund named L&T FMP - Series XVIII - Plan E (1147 days), a close ended debt scheme. The tenure of the scheme is 1147 days from the date of allotment. The new issue will be open for subscription from 04 February 2019 to 18 February 2019.

The investment objective of the scheme is to achieve growth of capital through investments made in a basket of debt/ fixed income securities (including money market instruments), government securities and state development loans maturing on or before the maturity of the Scheme.

The scheme offers growth and dividend payout option.

The scheme would invest 90% - 100% of its assets in debt instruments, government securities and state development loans with Low to Medium risk profile, upto 10% of its assets in money market instruments with low to medium risk profile.

Minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry load and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.

The fund manager of the scheme is Jalpan Shah and Vikas Garg.