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Tuesday, June 17, 2014

LIC Nomura Fixed Maturity Plan – Series 85 (730 Days) Floats On

NFO period is from 16 June to 24 June 2014 

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Fixed Maturity Plan – Series 85, a close ended income scheme with the duration of 730 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 16 June to 24 June 2014. 

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 scheme offers two options viz. growth and dividend payout option. 

The scheme would allocate 75%-100% of assets in debt instruments and invest upto 25% of assets in money market instruments with low to medium risk profile. Debt includes securitized debt upto 50%. 

The minimum application amount is Rs 10000 and in multiple of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

The units of the scheme will be listed on National Stock Exchange of India, in order to provide liquidity. 

Entry load: Nil 

Exit load: Not applicable for the scheme. 

Benchmark index for the scheme is CRISIL Short Term Bond Fund Index. 

The fund manager of the scheme is Killol Pandya.
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