Financial Daily from THE HINDU group of publications
Wednesday, Sep 14, 2005
Financial Daily from THE HINDU group of publications Wednesday, Sep 14, 2005 |
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Markets
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Mutual Funds LIC Mutual Fund's fixed maturity plan opens on Sept 16 Our Bureau
Mumbai , Sept. 13 THE new fund offer of LIC Mutual Funds Fixed Maturity Plans is due to open on September 16. The fund comprises a six-month plan and a one-year plan. This is a close-ended debt scheme with no assured returns, stated a press release. However, the portfolios of the plans will be such that more tax-efficient returns are generated. The fund is targeted at corporate and institutional investors. The offer closes on September 20. LIC MF is also seeking to increase its corpus steadily in its equity schemes by promoting its systematic investment plan. "The fund believes that an increase in the corpus through retail investors from small and medium cities would create more stability for the fund ," the release said.
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