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L&T MF unveils Daily Investment Plan

By SiliconIndia | Sunday, 07 March 2010, 21:26 Hrs

New Delhi: L&T Mutual Fund has launched a new scheme -Daily Investment Plan- which will offer investors an opportunity to transfer a fixed amount on a daily basis to eligible open ended equity schemes of the company.

According to the company, the daily investment in the equity schemes of the company enables investors to get benefits of the fluctuation in the equity markets. "The plan offers investors the opportunity to transfer a fixed amount on a daily basis to the eligible open ended equity schemes of L&T Mutual Fund with effect from March 5," L&T Mutual Fund said in a statement.

The minimum investment amount in the fund offers growth option with minimum application amount of Rs 10,000. It would be open for subscription from tomorrow. The plan "is an attractive option for the investors as it gives the freedom to put in as little as Rs 50 on a daily basis in an eligible equity scheme," L&T MF CEO Sanjay Sinha said. "This facility is designed to help the investors in coping with the market volatility and take the advantage of rupee cost averaging," Sinha added.

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