Mutual Fund News : LIC Mutual Fund introduces LIC MF Ultra Short Term Fund

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LIC Mutual Fund has launched an open ended debt scheme under the Ultra Short Duration category – LIC MF Ultra Short Term Fund.

The investment objective of the scheme is to generate returns through investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months – 6 months. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns.

The NFO opens for subscription on November 21, 2019 and closes on November 22, 2019.

The fund will be managed by Mr. Rahul Singh, while its performance will be benchmarked against CRISIL Ultra Short Term Debt Index.

The New Fund Offer price is Rs 1,000 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Payout and Reinvestment).