LIC Nomura MF Launches 18 Months Fixed Maturity Plan

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LIC Nomura MF Launches 18 Months FMP
LIC Nomura Mutual Fund has launched a new fund offer named as LIC Nomura MF Fixed Maturity Plan - Series 49 on September 12, 2011. It"s an close-ended income scheme with the duration of 18 months.

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 scheme would allocate upto 100% of assets in debt & money market instruments having residual maturity not exceeding 18 months with low to medium risk profile. Debt includes securitized debt upto 50%.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.

Basic Details:
NFO Opens: September 12, 2011
NFO Closes: September 19, 2011
NFO Price: Rs.10 per unit
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 10,000 per application and additional Re 1, thereafter
Exit Load: Nil
Benchmark: Crisil Short Term Bond Fund Index
Listing: National Stock Exchange
Fund Manager: Mr. Y.D. Prasanna

Read more about: mutual funds, nfo, fmp
Story first published: Monday, September 12, 2011, 14:37 [IST]
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