LIC MF Launches New Systematic Asset Allocation Fund

LIC MF launches LIC Mutual Fund Systematic Asset Allocation Fund. It is a 36-month close-ended hybrid fund. Upon completion of 36 months, the scheme will automatically be converted into an open-ended equity scheme. The investment objective of the scheme is to achieve a long-term growth by investing systematically in the equity / equity related instruments. Asset Allocation: In order to achieve the investment objective, the scheme will invest subscription initially in debt & money instruments and in a systematic and progressive manner will be allocated to equities over the close-ended period. According to indicative allocation, in first month from the date of allotment the house will invest 98.50% in debt and money market instrument and remaining 1.50% in equity or equity related instruments. In progressive manner it will increase it's share in equities reaching to 80.00% of the investment by the 36-month from the date of allotment keeping only 20.00% in debt and money market instruments.