Mumbai: LIC Mutual Fund has filed an offer document with SEBI to launch its open ended equity scheme, LIC Nomura MF Midcap Fund.
The fund plans to invest in equity and equity related instruments of mid cap companies (companies whose market capitalization lies within the highest and lowest market cap of the BSE Mid cap Index constituents) with relatively high risk/high return profile in general.
The minimum application amount will be Rs 5,000 and multiples of Rs 10 thereafter. Additional amount for purchase/ switch is Rs 1,000. The scheme will charge a 1% exit load if redeemed before a year. The scheme will be managed by Shri Ei-ichi Oka. It will be benchmarked against BSE Midcap Index.
