LIC Nomura MF Exchange Traded Fund - Sensex NFO

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Exchange Traded Fund - Sensex, an open ended exchange traded fund. 

The (NFO) price for the scheme is Rs. 10 per unit. 

The new issue will be open for subscription from 9 November to 23 November 2015.

The investment objective of the scheme is to provide returns that, closely correspond to the total returns of the securities as represented by the S&P BSE SENSEX by holding S&P BSE SENSEX stocks in same proportion, subject to tracking errors.

The scheme shall invest 95% to 100% of assets in securities covered by the S&P BSE Sensex with medium to high risk profile and invest upto 5% of assets in cash & cash equivalent / money market instruments inclusing CBLO (with maturity not exceeding 91 days) with low risk profile.

The minimum application amount is Rs. 5,000.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load & exit load charge will be Nil.

Benchmark Index for the scheme is S&P BSE Sensex.

The fund manager of the scheme is Sachin Relaker.

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