L&T Mutual Fund has unveiled a new close ended income fund with a duration of 367 days, India Infoline reports. The L&T FMP - IV will seek growth of capital through investments made in a pool of debt / fixed income securities maturing on or before the maturity of the fund. The scheme, which offers growth and dividend option, is open for subscription from June 29 to July 11, 2011. The fund will track the CRISIL Short Term Bond Fund Index, while Richa Sharma and Hareshwar Karekar will be its portfolio managers.
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