LIC Nomura Mutual Fund (MF) has launched a new fund named as LIC Nomura MF G-Sec Long Term Exchange Traded Fund, an open ended, index linked exchange traded fund (ETF).
The new fund offer (NFO) price for the scheme is Rs. 10 per unit.
The new issue will be open for subscription from 2014 December 17 to 22 December.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by GSEC10 NSE Index, subject to tracking errors.
The scheme offers growth option only.
The scheme would allocate 95% to 100% of assets in securities comprising of underlying benchmark index and upto 5% in other debt and money market instruments with low risk profile.
The minimum application amount is Rs. 5,000
The scheme will be listed on NSE.
Entry &exit load charge will be Nil.
Benchmark Index for the scheme is GSEC10 NSE Index.
The fund manager of the scheme is Mr. Killol Pandya.
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