LIC MF launches LIC MF Nifty Midcap 100 ETF

LIC Mutual Fund has launched LIC MF Nifty Midcap 100 ETF, an open-ended scheme tracking the Nifty Midcap 100 Total Return Index.

The objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by the Nifty Midcap 100 Total Return Index.

In a press release, Ravi Kumar Jha, MD and CEO said, LIC MF, said, “LIC Mutual Fund is optimistic about the potential of LIC MF Nifty Midcap 100 ETF. Given the prevailing macro environment, we feel we are launching the fund at the right time. As per International Monetary Fund report, the growth in India is projected to remain strong in the upcoming years. Additionally, the Centre's positive outlook on a high GDP growth rate and reduced market borrowing plan may bode well with the financial markets.”