LIC ‘Multicap’ Mutual Fund Opens Oct 6: Know the Key Details Before You Invest


LIC Mutual Fund has announced that it will launch “LICMF Multicap Fund” or “LICMF Multicap” on October 6. The New Fund Offering (NFO) closes on October 20, 2022. The NFO will therefore be open for 15 days. After this, the scheme will open again for a continuous subscription on November 2, 2022.

The LICMF Multicap Fund is an open ended equity investment vehicle and its proceeds will be invested in all market capitalization segments. According to reports, the LICMF Multicap Fund will invest 25 percent each in large, mid and small cap stocks and the remaining 25 percent will be invested over market capitalization at the discretion of the fund manager.

The company said the LICMF Multicap Fund’s focus on large, mid and small cap funds will provide disciplined diversification.

Also read: Good news for seniors! Earn more now with the Senior Savings Scheme

Minimum subscription amount for each plan i.e. Direct Plan and Regular Plan in all options/sub-options: Rs 5,000 and thereafter in multiples of Re 1.

Additional investment: Rs 500 and thereafter in multiples of Re 1. The minimum redemption amount is Rs 500 or account balance, whichever is lower.

Switching During NFO: In the case of investors who elect to switch to the Scheme from existing Schemes of LIC Mutual Fund (subject to completion of any lock-in period) during the Offering Period for the New Fund, it is minimum amount Rs 5,000/- and in multiples of On 1/- thereafter.

No minimum amount is required in the event that investors elect to transfer “all units” of existing LIC Mutual Fund plans to this plan. During the NFO Period (Switch Request will be accepted until 3:00 PM until the last day of the NFO and the switch will be processed on the NFO’s Assignment Date.

Also read: Personal loan, home loan EMIs from these banks are getting more expensive; Is your lender also on the list?

LICMF Multicap Fund would steer its investment strategy based on its internally developed Macro Based Valuation Check (MVC) and thus adjust the allocation of equities to evolving macro variables.

Premium benchmark: NIFTY 500 Multicap 50:25:25 TR

Liquidity: Units may be purchased or redeemed continuously on any Business Day at NAV related prices, subject to the applicable Loads (if any), commencing no later than 5 (five) Business Days from the date of allocation.

Redemption: The Investment Fund will send the redemption proceeds within 10 business days from the date of acceptance of the redemption request.





Source link
Zee News

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Vistara launches daily non-stop flight services between Mumbai-Abu Dhabi, View full schedule HERE
Next post Jacqueline Fernandez Visits Versova Beach for a Cleanup Ride-Pics
Close