The Hindu Business Line : Update

LICMF has launched the India Vision Fund, a three-year close-ended scheme that will automatically be converted into an open-ended scheme after three years. The fund aims at identifying growth sectors with emphasis on undervalued small and mid-cap stocks. It will be benchmarked against the BSE-200.

There is no entry load during the NFO. Exit load for premature withdrawal will be charged proportionate to the unamortised issue expenses. On being converted into open-ended scheme, the fund will charge entry load at 2.25 per cent but no exit load. The issue is open till December 22.

SBI MF has launched SBI One India fund. The focus will be long-term capital appreciation by investing in a diversified basket of stocks focusing on all four regions.

Investments would comprise of equity (70-100 per cent), fixed and floating rate debt and money market instruments (0-30 per cent) and foreign securities including ADRs and GDRs (0-20 per cent).

The minimum allocation as a percentage of equity assets to each region (East, North, South and West) will be 15 per cent, and the maximum allocation 55 per cent. The NFO opened for subscription on November 24 and will close on December 22. The minimum subscription amount is Rs 5000. There is no entry load during the NFO period and no exit load at all. The fund is benchmarked against BSE-200.

UTI Mutual Fund has launched UTI Fixed Term Income Fund Series II Plan 16, a close-ended income scheme. The funds aims to generate regular returns by investing in a portfolio of fixed income securities. It is benchmarked against the Crisil short-term bond Index. NFO. The fund opened on November 27 and closes on December 11.

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