Mumbai: LIC Mutual Fund has decided to convert LIC Top 100 Fund into an open ended scheme as the close ended scheme has completed 3 years. The change will be effective from January 7, 2011.
After conversion to open ended scheme, the fund will charge 1 per cent as exit load if units are redeemed within 1 year from the date of allotment and minimum application amount will be Rs 2,000, except in case of SIP where the minimum amount will be Rs 100.
LIC Top 100 Fund is an equity diversified scheme, with investment objective to provide long term capital appreciation from a portfolio of equity and equity related instruments primarily drawn from the companies in CNX 100 index. The scheme is benchmarked against CNX 100 and is managed by Bichitra Mahapatra.
