LIC MF introduces Ultra Short Term Fund

LIC Mutual Fund (MF) has launched the LIC MF Ultra Short Term Fund, an open ended ultra short term debt scheme. The NFO opens for subscription on November 21, 2019 and closes on November 22, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against CRISIL Ultra Short Term Debt Index and its fund manager is Rahul Singh.

The investment objective of the scheme is to generate returns through investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months.