MUTUAL FUNDS
LIC AMC announces changes in SIP features under various schemes
Oct-16-2024

LIC Mutual Fund Asset Management has announced Modification to Scheme Information Document (SID) and Key Information Memorandum (KIM) of designated Schemes and Statement of Additional Information (SAI) of LIC Mutual Fund.

1) LIC Mutual Fund Asset Management has informed that the AMC has decided to introduce daily frequency Systematic Investment Plan (SIP) in LIC MF Liquid Fund with effect from October 16, 2024 (‘Effective Date’). Accordingly, the terms relating to daily frequency SIP stand added in the SID of LIC MF Liquid Fund and SAI of LIC Mutual Fund.

2) The minimum amount and minimum instalments applicable for SIP (Applicable to all the existing Schemes offering SIP except LIC MF ELSS Tax Saver and LIC MF Unit Linked Insurance Plan) shall be revised with effect from October 16, 2024. Accordingly, the SID of the applicable Schemes and SAI of LIC Mutual Fund shall stand modified in the above regard from the aforementioned effective date.

3) The Minimum amount and minimum instalments of quarterly frequency SIP offered under LIC MF ELSS Tax Saver shall be revised with effect from October 16, 2024. Accordingly, the SID of LIC MF ELSS Tax Saver and SAI of LIC Mutual Fund shall stand modified in the above regard from the aforementioned effective date.

4) The minimum amount for availing STEP-UP Facility (Applicable to all the existing Schemes of LIC Mutual Fund offering Step -Up Facility under Systematic Investment Plan except LIC MF ELSS Tax Saver and LIC MF Unit Linked Insurance Scheme) shall be revised to Rs. 100 and in multiples of Rs 1 thereafter with effect from October 16, 2024. Accordingly, the SID of the applicable Schemes and SAI of LIC Mutual Fund shall stand modified in the above regard from the aforementioned effective date.

Necessary / incidental changes shall be carried out in SID and KIM of the aforesaid Schemes and SAI of LIC Mutual Fund in the above regards. This Notice cum Addendum shall form an integral part of SID and KIM of the aforesaid Schemes and SAI of LIC Mutual Fund as amended from time to time. All other terms and conditions of the aforesaid Schemes and SAI of LIC Mutual Fund will remain unchanged.


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