LIC NOMURA MF launches "LIC NOMURA MF Fixed Maturity Plan - Series 53"; NFO to close on July 9

Posted By: Religare
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LIC NOMURA MF launches
LIC NOMURA Mutual Fund launched a new close ended income scheme named "LIC NOMURA MF Fixed Maturity Plan - Series 53," with maturity time of 367 days.

The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on July 9.

According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount was Rs 10,000 and in multiples of Rs 10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend option only.

The performance of the scheme will be standardized against CRISIL Short Term Bond Fund Index and Y D Prasanna will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to minimize interest rate risk will be met, through investments in fixed income securities.

Hence, the scheme will allocate 0 to 100 per cent of assets in debt and money market instruments having residual maturity not exceeding 367 days.

Read more about: mutual funds
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