LIC Nomura Mutual Fund today announced the launch of a 36 month close ended scheme - ‘Capital Protection Oriented Fund- Series I’ (CPOF).
The NFO opened for subscription from November 11, 2013 and will close on November 25th, 2013. The scheme will invest in 85% debt and 15% equity.
The scheme aims to achieve capital protection by investing in fixed income securities maturing on or before the tenure of the scheme and seeks capital appreciation by investing in equity and equity related investments.
Nilesh Sathe, Director & Chief executive Officer, LIC Nomura Mutual Fund said “We are glad to announce the launch of Capital Protection Oriented Fund- Series I as it will help the investors to earn regular income over medium/ long term. The scheme is also designed with the purpose to help achieve capital appreciation and tax efficiency”.
Many fund houses like Birla Sun Life, Canara Robeco, ICICI Prudential, HDFC, BOI Axa have recently launched their capital protection funds. Union KBC and Sundaram Mutual Fund too have sought SEBI approval to launch capital protection funds.
