L&T Mutual Fund has announced the launch of L&T FMP – I (August125D A), a close ended income scheme having a Tenor of 125 days. The scheme/plan will open for subscription on Monday, August 23 and close on Wednesday, August 25.

The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter, and the scheme offers both growth and dividend payout option. The investment objective of the Scheme/plan would be to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before the maturity of the scheme/plan.