LIC MF Files Another Offer Document

LIC MF has filed offer document for LIC Fixed Maturity Plan Series 38-39-40-41. The scheme will be close-ended income scheme with maturity period after 3 months, therefore called as 3 Months Plan. The minimum investment for plan is Rs. 10,000 and in multiples of Re.1000 thereafter. The new fund offering (NFO) for the scheme is Rs. 10. The fund house seeks to collect a minimum corpus of Rs. 50 lakh for the scheme. Under dividend option, investors can choose from dividend reinvestment and dividend payout facility. The investment objective of the scheme 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 scheme being close ended will not charge any entry load. The scheme charges an exit load of 0.50%, if the investment is redeemed on or before maturity period. The fund will invest up to 100% in debt instruments having residual maturity of 3 months.