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LIC Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘LIC MF Multi Asset Allocation Fund’ (An open ended scheme investing in Equity, Debt and Gold). The New Fund Offer price is Rs 10. No entry load will be charged by the Scheme to the unitholders. If  units  of  the  Scheme  are  redeemed / switched-out within 3 months from the date of allotment: No exit load will be levied up to 12% of the units; and 1% will be levied above 12% of the units. No exit load will be levied if units of the scheme are redeemed / switched-out after 3 months from the date of allotment. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment, and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the Scheme is benchmarked against 65% Nifty 500 TRI + 25% Nifty Composite Debt Index + 10% Price of Domestic Gold. The minimum application amount is Rs 5,000 and multiples of Re 1 thereafter.

The investment objective of the scheme is to generate long term capital appreciation by investing in diversified portfolio of equity & equity related instruments, debt & money market instruments and units of Gold Exchange Traded Funds (ETFs).