LIC Mutual Fund has announced changes in scheme name, dividend payout frequency and minimum application amount under LICMF Short Term Plan. The changes will be effective from 1 January 2009.The scheme proposed to change the name of LICMF Short Term Plan to LICMF Savings Plus Fund, an open ended debt fund with daily (payment on weekly basis), weekly and monthly dividend option while earlier it had only monthly dividend option.
The minimum investment amount has been lessened to Rs 5000 and multiples of Re 1 thereafter from Rs 10000 and multiples of Re 1 thereafter.For weekly dividend option every Monday will be the record date and for the daily option dividend will be declared at the end of each business day.
The minimum investment amount has been lessened to Rs 5000 and multiples of Re 1 thereafter from Rs 10000 and multiples of Re 1 thereafter.For weekly dividend option every Monday will be the record date and for the daily option dividend will be declared at the end of each business day.
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