LIC Nomura MF launches “LIC Nomura MF Diversified Equity
Fund Series-1(1100 Days)”; NFO to close on September 02
27/08/2014 10:44
LIC Nomura Mutual Fund has launched a new close ended equity scheme named “LIC Nomura MF Diversified Equity Fund Series-1(1100 Days)” with maturity period of 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 19 and will close on September 02. According to the offer document filed with SEBI, the entry load is nil and since the scheme is 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 is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the Plan of the Scheme are Growth and Dividend Payout option. The performance of the scheme will be benchmarked against S&P BSE 200 Index. Nobutaka Kitajima and Ramnath Venkateswaran 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 generate capital appreciation will be met by investing in a portfolio of equity and equity related instruments constituted of companies in S&P BSE 200 Index and cash & cash equivalents, debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related instruments constituted of companies in S&P BSE 200 Index and 0 to 20 per cent of asset in cash & cash equivalents, debt and money market instruments.
27/08/2014 10:44
LIC Nomura Mutual Fund has launched a new close ended equity scheme named “LIC Nomura MF Diversified Equity Fund Series-1(1100 Days)” with maturity period of 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 19 and will close on September 02. According to the offer document filed with SEBI, the entry load is nil and since the scheme is 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 is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the Plan of the Scheme are Growth and Dividend Payout option. The performance of the scheme will be benchmarked against S&P BSE 200 Index. Nobutaka Kitajima and Ramnath Venkateswaran 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 generate capital appreciation will be met by investing in a portfolio of equity and equity related instruments constituted of companies in S&P BSE 200 Index and cash & cash equivalents, debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related instruments constituted of companies in S&P BSE 200 Index and 0 to 20 per cent of asset in cash & cash equivalents, debt and money market instruments.
