LIC’s new collective fund investment plan. NFO to start on October 6.!
Interest in collective fund investments has been adding in recent times. People are starting to probe which are the most profitable investments.
Collective finances are decreasingly seen as the stylish option for long- term earnings. You may know about NFO in this collective fund. This is the stylish chance available to collective fund investors.
What is NFO or New Fund Offer?
New Fund Offer is a new scheme launched by Asset Management Company (AMC). It is similar to an IPO in the stock market. Mutual fund houses are launching new mutual fund schemes to increase their assets under management.
LIC Mutual Fund NFO
LICMF Multicap Fund or LICMF Multicap is the scheme that LIC Mutual Fund is about to introduce. The design will be launched on October 6. The scheme will end on October 20. This New Fund Offer will be valid for 15 days. After that the plan will be available for purchase to subscribers again on November 2.
What is the minimum investment?
You can invest a minimum of Rs 5,000 in this LICMF Multicap Fund. This multicap fund is an open-ended equity oriented fund. It has announced that the funds raised through this will be widely invested in the market. According to the report 25% of the investment will be invested in large and mid cap funds and small cap funds. The remaining 25% is declared to be invested in the market at the discretion of the fund manager.
How much is the fee?
Currently there is no entry fee to buy this fund as it is a startup. The same exit fee is expected to be 12% if exiting within 12 months.
Willing to change?
Investors in this NFO from existing schemes of LIC Mutual Fund (if the lock-in period is over) want to switch to this scheme, a minimum amount of Rs. 5,000 to be paid. It has been announced that if investors choose to transfer all units from existing schemes of LIC Mutual Fund to this scheme, there is no minimum amount required.