New scheme of LIC Nomura MF launched under Rajiv Gandhi Equity Savings
Scheme
19/01/2015 11:04
LIC Nomura Mutual Fund has launched a new close ended equity scheme named “LIC Nomura MF Rajiv Gandhi Equity Savings Scheme Series-3 (3 Years)” with maturity period of 3 years 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 January 16 and will close on January 30. 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 100 Index. Nobutaka Kitajima and Ramnath Venkateswaran will be the fund managers 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 securities specified as eligible securities for RGESS and cash & cash equivalents and money market instruments. Hence, the scheme will allocate 95 to 100 per cent of asset in equity securities specified as eligible securities for RGESS and 0 to 5 per cent of asset in cash & cash equivalents and money market instruments.
19/01/2015 11:04
LIC Nomura Mutual Fund has launched a new close ended equity scheme named “LIC Nomura MF Rajiv Gandhi Equity Savings Scheme Series-3 (3 Years)” with maturity period of 3 years 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 January 16 and will close on January 30. 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 100 Index. Nobutaka Kitajima and Ramnath Venkateswaran will be the fund managers 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 securities specified as eligible securities for RGESS and cash & cash equivalents and money market instruments. Hence, the scheme will allocate 95 to 100 per cent of asset in equity securities specified as eligible securities for RGESS and 0 to 5 per cent of asset in cash & cash equivalents and money market instruments.
