LIC MF Launches Fixed Maturity Plan -Series 22

LIC MF has unveiled its Fixed Maturity Plan -Series 22. The close-ended, debt scheme investment objective is to minimize interest rate risk by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the scheme. The new fund offer (NFO) opens on 16 April and closes on 30 April 2007. The minimum initial application for the fund is Rs 10,000 and in multiples of Rs 1,000 thereafter. The issue price is Rs 10.