LIC Mutual Fund, one of the reputed fund houses in India, has launched LIC MF Multi Asset Allocation Fund, an open-ended scheme investing in equity, debt, and gold. The New Fund Offer (NFO) will open on 24th January 2025 and close on 07th February 2025.
The investment objective of the scheme is to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments, debt and money market instruments, and units of gold Exchange Traded Funds (ETFs). The scheme will reopen for continuous sale and repurchase on 18th February 2025.
Commenting on the NFO, Mr. R.K. Jha, Managing Director & Chief Executive Officer of LIC Mutual Fund Asset Management Ltd., said: “Hybrid mutual funds saw a 27% surge in assets under management in 2024, increasing from ₹6.90 lakh crore in January 2024 to ₹8.77 lakh crore in December 2024 according to data published by Association of Mutual Funds in India (AMFI).” Mr. Nikhil Rungta, Co-Chief Investment Officer-Equity, LIC Mutual Fund Asset Management Ltd., said: “A Multi-Asset Allocation Fund is a solution that combines the power of equities for growth with income generation from debt and the resilience of commodities.”
