India-based L&T Mutual Fund has unveiled its L&T Emerging Business Fund to offer long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities including equity derivatives in the Indian markets.
The new fund will invest in emerging businesses as those that are small size companies with the potential to grow at a much their revenues and profits faster rate than established businesses.
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It is reported that the fund is a two-year closed-ended scheme with automatic conversion into an open – ended equity scheme after the completion of two years from the date of allotment.
Ashu Suyash, CEO of L&T Investment Management, said: ‘This new fund offer (NFO) provides investors with an opportunity to benefit from investing in the undervalued segment of the market while adding style diversification to their portfolios.
"The closed-ended cum open ended structure ensures that investor money is not locked in for long periods of time and should the need arise; money may be redeemed at the end of the 2 year close period.”
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