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LIC MF Banking & Financial Services Fund(G)-Direct Plan

LIC MF Banking & Financial Services Fund(G)-Direct Plan
Dividend Yearly
NA
Category
Equity - Banking
52-week NAV high
11.79  (As on 29-08-2018)
52-week NAV low
9.32  (As on 08-10-2018)
Expense
1.78%  (As on 28-02-2019)

Performance

1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns 0.69 7.43 17.75 1.15 -0.11 10.68 3.41 - -
Scheme Details
Fund Type
Open Ended
Investment Plan
Growth
Bonus
NA
Launch Date
Mar 27, 2015
Last Dividend
NA
Minimum Investment
5000

Founded on 20 April 1989 by Life Insurance Corporation (LIC) of India, LIC Mutual Fund is one of the most renowned and trusted companies in the asset management segment. The company follows a systematic investment discipline for the benefit of its customers while maintaining a high level of corporate governance as well as financial ethics. LIC Mutual Fund employs ingenious and effective investment strategies in order to be able to cater to customers from all walks of life. Offering excellent investment experience along with unparalleled service, the company strives to offer the best possible experience to its customers and partners.

LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth is an open-ended scheme that is suitable for investors who are looking to generate returns during a long-term investment horizon by predominantly investing in a diverse portfolio of equity and equity-related securities. This scheme invests in stocks of companies that are associated with the banking and financial services sector while benchmarking the Nifty Financial Services Index.

Investment Objective of LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

The main investment objective of this scheme is to generate capital growth for unitholders in the long run through a portfolio that predominantly invests in equity and equity-related instruments of companies that are associated with the banking and financial services sector. However, it should be noted that this scheme does not offer guaranteed returns and offers no assurance that the objective mentioned above would be met.

Key Features of LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

Some of the significant features of the LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth are as mentioned in the table below:

Type of fund

An open-ended equity scheme that invests in banking and financial company sector.

Plans available

  • Regular Plan
  • Direct Plan

Please note that both the plans will have a common portfolio under this scheme.

Options under each plan

  • Growth
  • Dividend
    • Dividend Reinvestment
    • Dividend Payout

It should be noted that the default option under this scheme is the Growth option, while the default sub-option under the Dividend option is the Dividend Reinvestment option.

Risk

High

Systematic Investment Plan

Available

Systematic Transfer Plan

Available

Systematic Withdrawal Plan

Available

Investment Amount for LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

Before you decide to invest in this scheme, check out the table mentioned below to learn about the various amounts that are applicable to it:

Minimum application amount

For daily and monthly investment - Rs.5,000 and in multiples of Re.1 thereafter

Minimum additional investment

Rs.500 and subsequently in multiples of Re.1

Minimum installment for Systematic Investment Plan (SIP)

  • Daily investment - Rs.300 and in multiples of Re.1 thereafter
  • Monthly investment - Rs.1,000 and in multiples of Re.1 thereafter
  • Quarterly investment - Rs.3,000 and in multiples of Re.1 thereafter

Minimum installment for Systematic Withdrawal Plan (SWP)

Rs.500 and subsequently in multiples of Re.1 (both monthly and quarterly investments)

Entry Load

Not applicable

Exit Load

  • In case redemptions and switch-outs are done on or before the completion of 1 year starting from the date of allotment of units - 1%
  • In case redemptions and switch-outs are done after the completion of 1 year starting from the date of allotment of units - Nil

Asset Allocation for LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

Instruments

Allocations (Percentage of total assets)

Risk Profile

Equity and equity-related securities of banking and financial services companies

80% to 100%

High

Debt and money market instruments

0% to 20%

Low to medium

Please note that the maximum asset allocation that can be done towards financial services companies under this scheme is 20%. Additionally, this mutual fund might invest 30% of its net assets in securitised debt.

NAV Disclosure and Benchmark for LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

NAV - The purchase, redemption, or switching of units under this scheme is done based on the Net Asset Value (NAV) of the units subject to the time of the business day on which the application is time stamped. This NAV should be computed and disclosed by the asset management company (AMC) at the end of every business day. Then, it should be published in at least 2 daily newspapers with nationwide circulation along with the website of the Association of Mutual Funds in India (AMFI) at www.amfiindia.com and the official website of the AMC at www.licmf.com by 9:00 p.m. of each working day. Furthermore, the AMC or mutual fund is required to disclose the portfolio of the scheme in the prescribed format on the last day of each month on its website and on/before the 10th of the next month.

Benchmark Index - The benchmark index followed by the LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth scheme is Nifty Financial Services Index.

LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth Fund Manager

The fund manager of LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth is Mr. Saravana Kumar who offers his years of experience and market expertise to customers in order to help them generate maximum returns by opting for the best investment strategy according to their investment goals and risk-taking capacity.

Why You Should Invest in LIC Mutual Fund Banking and Financial Services Fund - Direct Plan - Growth

  • This scheme is ideal for investors who are looking to generate capital appreciation in the long-term investment horizon of above 3 years.
  • This mutual fund is well-suited for investors who have a high risk appetite and may be able to tolerate higher volatility as opposed to other diversified portfolios.
  • This plan is well-suited for those individuals who would like to add a Banking and Financial Services Fund to their existing core portfolio.
  • This scheme uses a steady approach to investing while avoiding too much churn.
  • This plan usually avoids crowded trades and is willing to stand out against prevailing market wisdom.
  • Since the current market scenario favours the banks and financial organisations burdened with non-performing loans (NPLs) owing to their exposure to infrastructure and corporate segments, it is a good idea to invest in this plan.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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