LIC Nomura MF Launches 90 Days FMP; NFO closes on April 11

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LIC Nomura MF Launches 90 Days FMP
LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan - Series 50, a close ended income scheme with the duration of 90 days.

Investment Objective:
The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the date of the maturity of the scheme.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Allocation of funds:
The scheme would allocate upto 100% of assets in debt & money market instruments having residual maturity not exceeding 90 days. This scheme will have low to medium risk profile. Debt includes securitized debt upto 50%.

Basic Details:
NFO Price: Rs 10 per unit
NFO Opens: April 10, 2012
NFO Closes: April 11, 2012
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 10000 and in multiple of Rs 1 thereafter.
Exit Load: NIL
Benchmark: Crisil Liquid Fund Index.
Managers: Y.D. Prasanna

Read more about: mutual funds, lic, nfo
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