LIC MF introduces Balanced Advantage Fund
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LIC Mutual Fund (MF) has launched the LIC Balanced Advantage Fund, an open-ended Dynamic Asset Allocation Fund. The NFO opens for subscription on October 20, 2021 and closes on November 03, 2021. The Entry load is not applicable for the scheme. The exit load will be nil, if 12% of the units allotted shall be redeemed or switched out, on or before completion of 12 months from the date of allotment of units, 1% of exit load on remaining units if redeemed or switched out on or before completion of 12 months from the date of allotment of units and there will be no exit load, if redeemed or switched out after completion of 12 months from the date of allotment of units. The minimum subscription amount is Rs 5000 and in multiple of Rs 1 thereafter.
The performance of the scheme will be benchmarked against LIC MF Hybrid Composite 50:50 Index and its fund managers are Yogesh Patil and Rahul Singh.
The investment objective of the scheme is to provide capital appreciation/ income to the investors from a dynamic mix of equity, debt and money market instruments and seeks to reduce the volatility by diversifying the assets across equity, debt and money market instruments.
