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LIC Mutual Fund has filed papers with SEBI for launching new fund offer of Balanced Advantage Fund.
Notwithstanding the boom in equity markets, large fund houses have been attracting huge investment through NFO. SBI Mutual Fund recently raised ₹15,000 crore through Balanced Advantage NFO last month.
LIC Mutual Fund, which is not known for launching frequent new fund offer, probably targets to take advantage of bullish market trend. LIC Balanced Advantage aims to provide capital appreciation/ income to the investors from a dynamic mix of equity, debt and money market instruments with reduced volatility by diversifying across asset class.
Kotak Mahindra Asset Management Company has launched Multicap Fund, an open-ended scheme that will provide the right mix of large, mid and small cap stocks for stability, growth and potential.
The NFO will open for subscription on September 8 and closes on September 22.
To invest across m-caps
The newly launched fund will aim to generate long-term capital appreciation from a portfolio of equity and equity related securities across market capitalisation. Harsha Upadhyaya, President & CIO (Equity), Kotak Mahindra AMC, said the fund house has added value to investors by outperforming benchmark indices across most time periods in all small, mid and large caps and the new offering is three in one fund. In last five years, Kotak MF’s equity AUM has grown almost seven times to ₹122,013 crore as on July-end against ₹17,602 crore in July, 2016.
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