LIC MF Nifty Midcap 100 ETF: LIC Mutual Fund Asset Management Limited has announced the launch of a New Fund Offer (NFO) 'LIC MF Nifty Midcap 100 ETF'. This NFO has opened on February 8, 2024 and will close on February 12, 2024. This scheme will again open for continuous sale and repurchase on February 19, 2024. Sumit Bhatnagar, Fund Manager (Equity), LIC Mutual Fund, will be the fund manager of this scheme. This scheme will replicate or track the Nifty Midcap 100 Total Return Index.
Minimum investment of Rs 5000 is required
At least Rs 5000 will have to be invested in this NFO i.e. LIC MF Nifty Midcap 100 ETF. After this, any amount can be invested in multiples of one rupee. Units will be allotted based on the complete data and if it falls below the minimum amount then the remaining amount will be refunded. The investment objective of this scheme is to provide returns around the total returns of the securities included in the Nifty Midcap 100 Total Return Index. However, this is subject to tracking errors. Keep in mind that under this scheme there is no guarantee or assurance that its target will be achieved.
Scheme launched at the right time
On the occasion of the launch of this new fund, Ravi Kumar Jha, Managing Director and Chief Executive Officer, LIC Mutual Fund Asset Management Limited, said that LIC Mutual Fund is very optimistic about the prospects related to LIC MF Nifty Midcap 100 ETF. Given the current macro conditions, we believe that we are launching this fund at the right time.
According to the report of the International Monetary Fund, the pace of growth in India is expected to remain strong in the coming years. Along with this, the positive approach of the Center regarding the GDP growth rate and the plan to raise less debt from the market can have a positive impact on the financial market. He said that keeping all these aspects in mind, we invite investors to subscribe to the new fund offer of LIC MF Nifty Midcap 100 ETF.
better option for whom
LIC MF Nifty Midcap 100 ETF is a better investment option for investors who want to grow their wealth in the long term. Therefore, investors aiming to invest for at least 5 years should invest money in this scheme. Keep in mind that this product labeling at the time of NFO is based on the internal assessment of the scheme characteristics or model portfolio and there may be differences in it at the time of actual investment after NFO.
(Disclaimer: Investing in mutual funds is subject to market risks. Financial Express does not advise any investment. Do your own research or consult your financial advisor before investing.)