LIC Nomura MF Launches 90 Days Fixed Maturity Plan

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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 51, 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 (minimum target) 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%.

95% 100% of net assets would be invested in A1 rated certificate of deposits and upto 5% would be invested in any other securities such as Government Securities / Treasury Bills / CBLO / Reverse Repos Repos (in G-Sec / T-Bill).

Basic Details:
NFO Price: Rs 10 per unit
NFO Opens: April 23, 2012
NFO Closes: April 25, 2012
Options: Growth and Dividend Payout
Benchmark: Crisil Liquid Fund Index.
Minimum Application Amount: Rs 10000 and in multiple of Rs 1 thereafter.
Exit Load: NIL
Manager: Mr. Y.D. Prasanna

Read more about: mutual funds, nfo, lic
Story first published: Monday, April 23, 2012, 14:50 [IST]
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