The LIC Mutual Fund is managed by LIC Mutual Fund Asset Management Limited and is backed by the Life Insurance Corporation (LIC) of India. LIC Mutual Fund Trustee Private Limited is the trustee to the LIC Mutual Fund.
The LIC MF Banking And Financial Services Fund is an open-ended equity scheme which invests in banking companies and financial companies.
Investment Objectives of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option
The main objective of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option is to facilitate the generation of long-term growth of capital through investments predominantly made in a portfolio of equity and instruments related to equity of banking companies and financial companies. The Growth scheme is suitable for the investors who are seeking long-term capital growth and are not looking for the generation of income at present.
Key Features of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option
The key features of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option can be listed as follows:
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Type of fund |
An open-ended equity scheme that invests in banking sectors and financial sectors. |
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Plans available |
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Options under each plan |
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Risk |
High |
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Systematic Investment Plan (SIP) |
Available |
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Systematic Transfer Plan (STP) |
Available |
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Systematic Withdrawal Plan (SWP) |
Available |
Investment Amount for the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option
|
Minimum application amount |
Rs.5,000 and in multiples of Re.1 subsequently |
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Minimum additional investment |
Rs.500 and in multiples of Re.1 subsequently |
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Minimum instalment for Systematic Investment Plan (SIP) |
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Minimum instalment for Systematic Withdrawal Plan (SWP) |
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Minimum instalment for Systematic Transfer Plan (STP) |
Rs.100 per instalment and in multiples of Re.1 subsequently |
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Entry Load |
N/A |
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Exit Load |
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Asset Allocation for the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option
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Type of security |
Indicative Allocations (percentage of total assets) |
Risk Profile |
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Minimum |
Maximum |
High/Medium/Low |
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Equity and equity related instruments of banking sectors and financial service sectors |
80% |
100% |
High |
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Debt and money market instruments |
0% |
20% |
Low to Medium |
NAV Disclosure and Benchmark of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option
The NAV or Net Asset Value of each unit under the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option is required to be calculated. The same needs to be published as well by the end of every business day. The calculation is done on the basis of the recommendations of the SEBI (Mutual Fund) Regulations, 1996. The following formula is used for the purpose of calculation:
Net Asset Value (NAV) = Market value or Fair value of the investments under the scheme + Current assets - Current liabilities and provisions / Number of outstanding units under the scheme on the date of computation.
The NAV is calculated and rounded off up to 4 decimal places.
The benchmark of the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option is Nifty Financial Services Index.
LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option Fund Manager
The fund manager for the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option is Mr. Saravana Kumar. He is the Chief Investment Officer of LIC Mutual Fund Asset Management Limited and has been in the position since 30 April 2015.
Why should you invest in LIC MF Banking And Financial Services Fund - Regular Plan - Growth Option?
The LIC Mutual Fund is sponsored by the Life Insurance Corporation (LIC) of India. This makes the fund house very reliable and trustworthy. In addition to being backed by the LIC of India, it is one of the oldest and fastest growing mutual funds in India. If the main objective of investment of an investor is to facilitate the long-term growth of capital through investments made in equities of companies related to the banking sector and financial services sector, then the LIC MF Banking And Financial Services Fund - Regular Plan - Growth Scheme is one of the best options to invest in.
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