L&T MF launches MIP fund

L&T Mutual Fund on Tuesday launched L&T MIP Wealth Builder Fund, an open-ended income scheme. The fund will have a debt exposure of 70-100 per cent and equity portion could go up to 30 per cent. This is the first product from L&T MF that is partially equity since it took over the AMC business of DBS Chola two years before.

N Sivaraman, president and whole-time director, L&T Finance Holdings, said: “In this current challenging environment, where the risk of rising interest rates has increased and global markets seem to be volatile, we believe that this fund would be a product that could offer risk-adjusted returns and could serve as an alternative under fixed income products.” The Fixed income allocation could be invested in CDs, CPs, government securities, money market and other debt instruments.