LIC Nomura Mutual Fund Launches Banking & Financial Services Fund

Key highlights:

• An open ended Banking & Financial services sector scheme

• NFO opens: Monday, March 09, 2015

• NFO closes: Monday, March 23, 2015

• Risk carried: High risk (Brown)

• Plan available: Regular plan and Direct plan

• Payout option: Growth and Dividend

• Benchmark- S&P BSE Bankex

• Minimum Application amount: INR 5, 000/- and in multiples of INR 1/- thereafter

• Special facilities available during NFO: Systematic Investment Plan and Subscription through stock exchange platform 

LIC Nomura Mutual Fund, today, has launched LIC Nomura MF Banking & Financial Services Fund. It is an open ended Banking & Financial services sector scheme and the New Fund Offer (NFO) will open today, Monday, March 09, 2015 for subscription and will close on Monday, March 23, 2015.

The scheme’s objective is to offer returns to investors with an objective of long term capital appreciation by predominantly investing in portfolio of equity and equity linked instruments of Banking and Financial services companies which are expected to show sustained growth and generate better performance. The scheme will also invest some portion in debt & money market instruments.

The entry load for this specific product is NIL and the exit load is 2% if redeemed or switched out before completion of 18 months from the date of allotments of units and 1% if redeemed or switched out on or after 18 months and on or before 24 months from the date of allotments of units. Exit load will be NIL if redeemed or switched out after completion of 24 months from the date of allotments of units.

Speaking on the launch, Mr. Nilesh Sathe, Director & Chief Executive Officer, LIC Nomura MF said, “This scheme is our another initiative after the launch of LIC Nomura MF Midcap fund to establish a long-term connect with investors. This product is ideal for investors looking at capital appreciation through long term investments in banking and financial sector funds, and this will help them augment their portfolio”.

About LIC Nomura Mutual Fund

LIC Nomura Mutual Fund Asset Management Co. Ltd is a joint venture between LIC of India and Nomura Asset Management Company Ltd, Japan’s leading specialist Asset Management Company.

LIC Nomura Mutual Fund Asset Management Co. Ltd holds one of the widest networks of offices across the country. The company manages a comprehensive range of schemes to cater to the varying investment needs of its more than 1.2 million investors.

Disclaimer:

Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents carefully.