New fund offer focused on India's manufacturing boom - LIC Mutual Fund introduces LIC MF Manufacturing Fund
New Fund Offer (NFO) is open from September 20 to October 4, 2024.
LIC Mutual Fund, one of India's most established fund houses, has introduced the LIC MF Manufacturing Fund, an open-ended equity scheme centred around the manufacturing theme.
The New Fund Offer (NFO) opens for subscription today, September 20, 2024, and will close on October 4, 2024. The fund aims to provide long-term capital appreciation by investing in companies aligned with India's growing manufacturing sector.
Key Details:
- NFO Period: September 20 to October 4, 2024
- Scheme Benchmark: Nifty India Manufacturing Index (Total Return Index)
- Fund Managers: Yogesh Patil and Mahesh Bendre
- Minimum Investment: Rs 5,000 and multiples of Re 1 thereafter during the NFO
Investment Objective
The fund aims to achieve long-term capital appreciation by investing primarily in equity and equity-related instruments of companies that are part of India’s manufacturing sector. This includes sectors such as automobiles, pharmaceuticals, chemicals, heavy engineering, metals, and shipbuilding.
Management comments
According to R K Jha, Managing Director & CEO of LIC Mutual Fund, “India’s GDP growth, urbanisation, and policy initiatives like Make-in-India and Production Linked Incentives are making the country a manufacturing hub. With the government’s focus, manufacturing is expected to play a pivotal role in making India a $5 trillion economy by 2027.”
Fund Highlights
- Targeted Sectors: Automobiles, chemicals, pharmaceuticals, metals, and more.
- Economic Opportunity: Initiatives such as Atmanirbhar Bharat and China +1 provide significant growth potential.
- Global Shift: India is poised to become a global manufacturing hub with rising opportunities from shifting global supply chains.
Is this fund right for you?
- Suitable for Investors seeking long-term capital appreciation through equity investments in the manufacturing sector.
- Risk: Very High
Conclusion
This fund is a promising option for investors looking to capitalise on India's evolving manufacturing landscape and its growing role in global supply chains.
Disclaimer: The article is for informational purposes only and not investment advice.