L&T Mutual Fund has launched a new fund named L&T Focused Equity Fund, An open ended equity scheme investing in maximum 30 stocks in large, mid and smallcap companies. The new issue will be open for subscription from 15 October 2018 to 29 October 2018.

The investment objective of the scheme is to provide capital appreciation by investing in equity and equity related instruments of maximum 30 stocks. There is no assurance that the investment objective of the scheme will be realized.

The scheme offers growth and dividend option with dividend payout & dividend reinvestment facility.

The scheme would invest 100% - 65% of its assets in equity and equity related securities including derivatives with high risk profile, invest upto 35% of assets in debt and money market instruments with low to medium risk profile, and upto 10% of assets in units issued by REITs and InvITs with medium to high risk profile.

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

Minimum additional application amount is Rs 1000 and in multiples of Re. 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Nil

Exit Load: For redemption within 1 year from the date of allotment 1% of applicable NAV

Purchase applying First in First Out basis

Benchmark Index for the scheme is Nifty 500 TRI Index

The fund managers of the scheme are S N Lahiri and Vihang Naik.