LIC Nomura Mutual Fund files offer document for its LIC Nomura Banking & Financial Services Fund
LIC Nomura Mutual Fund has filed a draft offer document with SEBI for its open ended banking & financial services sector scheme called - LIC Nomura MF Banking & Financial Services Fund.
The scheme aims to generate long-term capital appreciation from a portfolio that is invested substantially in equity and equity related securities of companies engaged in banking and financial services sector. The scheme will be investing 80-100% in equity and equity related securities of Banking and financial services companies and up to 20% in cash, debt and money market instruments.
The benchmark of the scheme is S&P BSE Bankex Index. The exit load if redeemed before 18 months from the date of allotment will be 1% and nil if redeemed after 18 months from the date of allotment.
The fund will be managed by Ramnath Venkateswaran.
