LIC MF Set To Launch Infrastructure Fund Series 1

LIC Mutual Fund is launching LIC MF Infrastructure Fund Series I, a 3-year close ended equity scheme on 04th February 2008. The abstract from the offer document filed with Sebi.

Snapshot

Name of Fund: LIC Infrastructure Fund Series 1

Scheme: A 36-months close-ended equity scheme with an automatic conversion into open-ended scheme after completion of 36 months from the date of allotment.

Objective: The investment objective of the scheme is to provide long term growth in capital by investing predominantly in equity / equity related instruments of companies directly or indirectly involved in the infrastructure sector and debt and money market instruments.

Investment options: The scheme offers investment under two options namely dividend & growth. Under dividend option, the unit holder can choose either dividend payout or reinvestment.

Asset Allocation: The scheme will invest 70-100% of its portfolio in equity and equity related instruments. The scheme will invest 0-30% in debt and money market instruments. The plan may invest up to 30% of debt portfolio in securitised debt.

Face Value: Rs 10.

Entry Load: Nil. After conversion into an open-ended scheme, there will be 2.25% entry load charged for investment up to Rs 1 crore and no entry charge for investment above Rs 1 crore.

Exit Load: The units will be redeemed only after recovering the balance proportionate unamortized issue expenses. There will be no exit load charged after the conversion into open-ended.

Minimum Investment Amount: The minimum investment amount is Rs. 5000 and in multiples of Re.1 thereafter.