LIC Mutual Fund NFO Details
LIC stands for Life Insurance Corporation. The Mutual Fund is coming with a new fund offer. The NFO opens on 21st November and closes on 22 November. The main aim of the LIC mutual fund is to provide value for investors by updating fresh and strong investment strategies, catering to all segments of investors. LIC MF Ultra Short Term Fund initial offer price is Rs 10 per unit.
This time, the mutual fund launches a new NFO under an open-ended Debt Ultra Short Duration Fund. It is available under regular and direct plans. The scheme also offers dividend and growth options. It will manage by Mr. Rahul Singh.
An investor must invest a minimum of Rs 5000 and in multiples of Re 1 thereafter per application.
For additional purchase must invest a minimum of Rs 500.
Objects of the Scheme
The main objective of the LIC MF Ultra Short Term Fund is to provide returns by investing in debt & money market securities. It invests only the portfolios that mature between 3 to 6 months.
Exit and entry loads doest not exist under the scheme.
As of the reports, the scheme completely means 100 percent invests in Debt and money market instruments including Tripatry Repo.
Normally, ultra short term funds invest fixed income securities while these are liquid instruments and have a short- duration maturity period. As of the report, all most all the experts suggest UST schemes to investors who need short -term investment and STPs in place of liquid funds.
Disclaimer: This article offers information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk. Please consult your financial advisor before invest.