LIC MF has registered offer document for LIC FMP Series 34-35-36-37. The scheme will be close-ended income scheme. LIC Mutual Fund Fixed Maturity Plan Series 34-35-36-37 will mature after 16 mo nths, 15 months, 14 months, 13 months, which is called 16 Months Plan, 15 Months Plan, 14 Months Plan, 13 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 1.50%, if the investment is redeemed on or before 180 days. The exit load will come down to 1.00% if the investment is redeemed after 180 days before maturity period. There will not be any exit load on the redemption made upon the maturity of the scheme.
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