LIC Mutual Fund has announced revision in certain key provisions of LICMF Interval Fund Quarterly Plan – Series 1, LICMF Interval Fund Monthly Plan – Series 1, LICMF Interval Fund Annual Plan – Series 1 and LICMF Interval Fund Quarterly Plan – Series 2.
The changes will be effective from April 1, 2011 in case of LICMF Interval Fund Quarterly Plan – Series 1, LICMF Interval Fund Monthly Plan – Series 1 and LICMF Interval Fund Quarterly Plan – Series 2 and from May 18, 2011 in case of LICMF Interval Fund Annual Plan – Series 1.
The proposed features are as follows:
Listing: The units of the interval funds will be listed on the Capital Market Segment of NSE.
Load Structure: Exit load during the Specified Transaction Period will be Nil.
Dematerialization of Units: The unit holders have an option to hold the units in dematerialized form.
Dividend Record: The dividend record date has been fixed as the first day of Specified Transaction Period.
Investors who want to exit from the scheme, can redeem their units before effective date without paying any exit load.
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