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LIC MF: Another new scheme from LIC.. Chance till October 4.. What is the minimum investment?

Samayam | September 23, 2024 11:01 AM CST

LIC MF: Life Insurance Corporation of India Mutual Funds has launched another new scheme. The scheme, which is already under subscription, will be available till October 4, 2024. And what is the minimum investment to invest in this? What are the details of the scheme?

Highlights:

LIC Mutual Funds is a new scheme
Subscription till 4th October
What is the minimum investment?

LIC MF: With the increasing number of equity investors, fund houses are launching tailored schemes for their customers. New funds are coming into the market from time to time with offers. Recently Life Insurance Corporation of India Mutual Fund has brought another new scheme. The same is LIC MF Manufacturing Fund. It is an open ended equity scheme. Will invest in manufacturing companies. This New Fund Offer (NFO) is already open for subscription. However, it will be available only till October 4, 2024. Units will arrive on October 11 for those who have subscribed to this scheme.

LIC MF Manufacturing Fund will be managed by Yogesh Patil and Mahesh Bendra. The benchmark index of this scheme is Nifty India Manufacturing Index (Total Return Index). LIC Mutual Funds said that this new scheme aims to provide good long-term returns by investing in the equities of companies in the manufacturing sector and equity-related channels. A minimum investment of Rs.5000 is required to invest in this scheme. After that you can put any amount.

The scheme will mainly focus on companies like automobile, pharmaceuticals, chemicals, heavy engineering, metals, shipbuilding and petroleum products. 80 percent to 100 percent of the money invested in this will be invested in equity and equity related ways in manufacturing companies. The remaining 0-20 percent of the investment will be invested in non-manufacturing sector companies. This will be done to diversify the portfolio. Primarily 0-20 percent of the investments will be allocated to stable and good returns such as debt securities and money market instruments.