The LIC MF Tax Plan-Direct Plan Growth Option is offered by LIC Mutual Fund, established in 1989 by LIC of India. LIC Mutual Fund carries forward the legacy of financial accountability, integrity, and commitment to the welfare of the people that LIC of India has established.
The LIC MF Tax Plan - Direct Plan Growth Option is ideal for those looking for tax relief combined with appreciation of capital.
Investment Objective of LIC MF Tax Plan-Direct Plan Growth Option
The investment objective is to provide tax relief and tax rebates along with capital appreciation through safe investments in the stock markets.
Key Features of LIC MF Tax Plan
Some of the significant features of the LIC MF Tax Plan-Direct Plan Growth Option are as indicated in the table below:
|
Type of fund |
An open-ended savings scheme that is linked to equities and also provides tax benefits and a lock-in period of 3 years. |
|
Plans available |
Regular Plan and Direct Plan options are available. |
|
Options under each plan |
Dividend Payout and Growth options are available under each plan. |
|
Risk |
Moderately High |
|
Systematic Investment Plan |
Available |
|
Systematic Transfer Plan |
Available |
|
Systematic Withdrawal Plan |
Not available |
Investment Amount for LIC MF Tax Plan-Direct Plan Growth Option
|
Minimum application amount |
Rs.500 and multiples of Rs.500 subsequently |
|
Minimum additional investment |
Rs.500 and multiples of Rs.500 subsequently |
|
Minimum installment for Systematic Investment Plan (SIP) |
Daily: Rs.500 and in multiples of Rs.500 subsequently Monthly: Rs.500 and multiples of Rs.500 subsequently Quarterly: Rs.1,500 and in multiples of Rs.500 subsequently |
|
Minimum installment for Systematic Withdrawal Plan (SWP) |
Rs.500 and in multiples of Rs.500 subsequently (not demat units) |
|
Entry Load |
Nil |
|
Exit Load |
Nil (subject to 3-year lock-in period) |
Asset Allocation for LIC MF Tax Plan-Direct Plan Growth Option
|
Instruments |
Indicative Allocations (Percentage of total assets) |
Risk Profile |
|
|
Minimum |
Maximum |
||
|
Equity and related instruments |
80 |
100 |
Medium to high |
|
Money market and debt instruments, cash, government securities |
0 |
20 |
Low to medium |
NAV Disclosure and Benchmark for LIC MF Tax Plan-Direct Plan Growth Option
NAV Calculation: The market value of the investments is added to the current assets. From this, the current provisions and liabilities are subtracted. The resulting figure is divided by the per unit number of outstanding units to generate the NAV.
NAV Disclosure: The first NAV is disclosed within 5 business days of the first allotment date. Subsequently, it is disclosed at the end of every business day.
Benchmark Index: Nifty 500 Index
LIC MF Tax Plan-Direct Plan Growth Option Manager
The manager for the LIC MF Tax Plan is Mr. Sachin Relekar, who has been managing this scheme since 2015. He is presently the Fund Manager in LIC Mutual Fund AMC. He has been working in the asset management field since 2007.
Why you should Invest in LIC MF Tax Plan-Direct Plan Growth Option
The LIC MF Tax Plan - Direct Plan Growth Option is for people who want to enjoy greater tax reliefs and rebates while also growing their money to the maximum. This is perfect for people who are averse to high risk as it invests prudently and has a statutory lock-in period of 3 years. The direct plan means lesser expense ratio. The minimum investment amount is a very affordable Rs.500 which makes it accessible for all. The growth option means that both the principal amount and interest are reinvested to give maximum appreciation of capital.
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