LIC Nomura Mutual Fund files offer document for its LIC Nomura MF Rajiv Gandhi Equity Savings Scheme -Series 3.

LIC Nomura Mutual Fund files offer document for its LIC Nomura MF Rajiv Gandhi Equity Savings Scheme -Series 3.

LIC Nomura Mutual Fund has filed a draft offer document with SEBI for its close ended equity scheme called – LIC Nomura MF Rajiv Gandhi Equity Savings Scheme -Series 3.

The scheme aims to generate capital appreciation from a portfolio that is substantially constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Savings Scheme (RGESS). The scheme will invest 95%-100% in equity securities which are eligible securities for RGESS and up to 5% in cash and cash equivalents and money market instruments.

The benchmark of the scheme is S&P BSE 100 Index. The minimum application amount is Rs 5,000. The fund will be co-managed by Nobutaka Kitajima and Ramnath Venkateswaran.