LIC Nomura Mutual Fund launches LIC Nomura MF Exchange Traded Fund, Nifty 100

Key highlights

- An open ended Exchange Traded Fund

- NFO opens on Friday, March 04, 2016

- NFO closes on Friday, March 11, 2016

- Entry and Exit load - NIL

- Risk - Moderately High

- Benchmark - NIFTY 100 INDEX

- Minimum Application amount - INR 5,000/- and in multiples of INR 1/- thereafter during the New fund offer period

LIC Nomura Mutual Fund today launched an open ended Exchange Traded Fund called the LIC Nomura MF Exchange Traded Fund, Nifty 100. It is Rajiv Gandhi Equity Savings Scheme (RGESS) Qualified Scheme which will open for offer from Friday, March 04, 2016 and will close on Friday, March 11, 2016.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by NIFTY 100 INDEX.

Mr. Sachin Relekar is the fund manager of the scheme.

Speaking on the launch, Ms. Sarojini Dikhale, Director and Chief Executive Officer, LIC Nomura MF said “Exchange-Traded Funds (ETFs) are growing ever more popular, as they are created to combine the best characteristics of both stocks and mutual funds into a combined investment vehicle. They offer a benchmark return at minimal cost thus ensuring appropriate investment decision on an investor’s part. Those looking for a long term investment should opt for this product.”

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 investors.

Disclaimer

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