Lotus India Asset Management Company (Lotus India AMC), has launched Lotus India Banking Fund, an Open-Ended Banking Sector Fund in the Indian market.

The investment objective of the Scheme is to generate long-term capital growth from a portfolio of equity and equity-related securities of companies engaged in the business of banking and financial services.

The Scheme will invest 65-100% in equity and equity related instruments of the constituents of CNX Bank Index, 0- 35% in equity and equity related instruments of banking and financial services companies other than the constituents of CNX Bank Index and 0-35% in debt and money market instruments.

The New Fund Offer priced at Rs 10 per unit (plus applicable entry load) opened for initial purchase from May 19, 2008 and closes on June 17, 2008.

Lotus India AMC is a joint venture between Fullerton Fund Management Group (Fullerton) and Sabre Capital Worldwide. Alexandra Fund Management (AFM), the sponsor of Lotus India AMC, is an affiliate of Fullerton (both Fullerton and AFM are wholly owned by Temasek Holdings, Singapore.)

With over 200 employees, across 60 locations and over 9,000 distributor tie-ups, Lotus India AMC has established a wide footprint across the country.