LIC Nomura Mutual Fund has announced the New Fund Offer (NFO) LIC Nomura MF Fixed Maturity Plan - Series 51, a close ended income scheme. The NFO opens for subscription on April 23, 2012 and closes on April 25, 2012. No entry and exit load charge is applicable for the scheme. The duration of the scheme will be 90 days from the date of allotment. The scheme offers dividend payout and growth option.
The scheme will be benchmarked against CRISIL Liquid Fund Index. The minimum application amount is Rs.10000 and in multiple of Re.1 thereafter. The scheme will be managed by Y.D. Prasanna.
The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the date of the maturity of the scheme.
