LIC MF AMC announces Requirement of Minimum application amount for ETFs
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LIC Mutual Fund Asset Management Company (AMC) has announced Addendum to the Scheme Information Document (SID) And Key Information Memorandum (KIM) of LIC MF Nifty 50 ETF,LIC MF NIFTY 100 ETF, LIC MF S & P BSE SENSEX ETF & LIC MF NIFTY 8-13 YR G-SEC ETF (collectively referred to as the Exchange Traded Funds - ETFs) of LIC Mutual Fund.
LIC Mutual Fund has informed that that in line with SEBI Circular nos. SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated May 23, 2022, SEBI/HO/IMD/DF2/CIR/P/2022/102 dated July 28, 2022 and SEBI/HO/IMD/DOF2/P/CIR/2022/145 dated October 28, 2022, the requirement of Minimum application amount of Rs 25 crore and in multiples of Creation Unit Size for transactions (Purchase / redemptions) directly with the Fund, by Large Investors during Ongoing Offer Period of ETFs, are applicable with effect from May 1, 2023 except for Schemes managed by Employee Provident Fund Organisation, India and Recognised Provident Funds, approved Gratuity Funds and approved superannuation Funds under Income Tax Act, 1961. For the above-mentioned Investors, the requirement of Minimum application amount of Rs 25 crore and in multiples of Creation Unit Size for transactions (Purchase / redemptions) directly with the Fund shall not be applicable till October 31, 2023.
This Notice cum addendum shall form an integral part of the SID and KIM of the ETF schemes of LIC Mutual Fund as amended from time to time. All other terms & conditions of SID & KIM of ETF schemes of LIC Mutual Fund will remain unchanged.
