MONEY TODAY and Plexus Management evaluate the Lotus AGILE Fund and bring to you the report card.
FUND FACTS
Offer open: Till 23 November
Scheme type: Open-ended equity
Minimum investment and subscription: Rs 5,000, Unit price: Rs 10
Loads: Entry load: 2.25%, Exit load: 1% if exiting within six months
Options: Growth and dividend (payout and reinvestment)
Investor grievances: Malati Majumdar. Tel: (022)66229666. E-mail: service@lotusindiaamc.com
FUND STATS
Objective: The scheme seeks to generate capital appreciation by investing in a passive portfolio of stocks selected from industry leaders on the basis of a mathematical model
Benchmark: S&P CNX Nifty Index
Fund manager: Nitish Sikand
Asset allocation: 90-100% equity and equity-linked, 0-10% debt and cash
Comparable existing scheme: None
FUND PROGNOSIS
Idea distiller: Investments made on the basis of this model have a better chance to outscore markets in both upswing and downswing.
Fund house report: Lotus India AMC, a fast-growing fund house, has an asset base of Rs 6,385.86 crore. It set up operations 15 months ago.
Track record: Returns profile - 5/5, Risk profile - 4/5
Fund manager report: Performance of fund manager
Track record: Returns profile - 5/5, Risk profile - 4/5
INVESTOR TAKEAWAYS
Who should apply: Anyone looking for a theme in equity investing that could prove to be a winner.
Remember: This is a first of its kind mutual fund. A mathematical model, instead of a fund manager, decides which stocks to buy. As a result clearly defined rules, and not fund manager's discretion, will guide investment strategy. This is likely to increase pure performance indicators and at the same time reduce chances of human error.
