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LIC 'Multicap' mutual fund to launch on October 6, here's all you need to know
LICMF Multicap Fund's internal Macro Based Valuation Check would serve as the basis for its investing strategy.
Updated : Oct 03, 2022, 04:30 PM IST | Edited by : Raunak Jain
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According to LIC Mutual Fund, "LICMF Multicap Fund" or "LICMF Multicap" will launch on October 6. On October 20, 2022, the New Fund Offer (NFO) will come to an end. The NFO will therefore be available for 15 days. On November 2, 2022, the plan will reopen for an ongoing subscription.
The proceeds from the open-ended equity investment vehicle known as the LICMF Multicap Fund will be spread across all market capitalization sectors. The LICMF Multicap Fund will reportedly invest 25% in each of large, mid, and small-cap stocks, with the other 25% being invested across market capitalization at the fund manager's discretion.
The company said that the disciplined diversification provided by the LICMF Multicap Fund's focus on Large, Mid, and Small-cap funds.
The minimum subscription fee for each plan, including Direct Plan and Regular Plan in all options and sub-options, is Rs 5,000, with subsequent payments made in multiples of Rs 1.
Additional Investment:
500 rupees, followed by multiples of 1 rupee. The account balance of Rs. 500 will be used as the minimum Redemption amount.
Switch during NFO:
The minimum amount is Rs. 5,000, and thereafter, in multiples of Rs. 1 for investors who choose to switch into the Scheme from existing LIC Mutual Fund Schemes (Subject to the conclusion of the lock-in period, if any).
If investors choose to transfer "all units" from any of the LIC Mutual Fund's current schemes to this Scheme, there is no minimum investment requirement. During the NFO period, switch requests will be handled on the NFO allotment date and will be accepted up until 3 p.m. on the last day of the NFO.
The Macro Based Valuation Check (MVC), which LICMF Multicap Fund developed internally, would serve as the basis for its investment strategy, which would then be adjusted to reflect changing macro variables.
Liquidity:
Starting no later than five (five) business days from the date of allotment, units may be bought or redeemed at NAV-related prices, subject to applicable Loads (if any), on an ongoing basis.
Redemption:
Within 10 business days of the day the Mutual Fund accepts the request for redemption, the funds will be distributed.
