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LIC to merge its Floater MIP with open-ended Monthly Income Plan


LIC Nomura MF has announced to merge LIC Nomura MF Floater MIP with LIC Nomura MF Monthly Income Plan. Accordingly LIC Nomura MF Floater MIP shall cease to exist from effective date- November 1, 2013.

Unitholders of Floater MIP fund will be issued fresh units of Monthly Income Plan in lieu of units held on October 31, 2013.

Investors in Floater MIP who do not accept the proposed merger can switch to other schemes of LIC Nomura MF or redeem their investments, without being charged an exit load, from October 1, 2013 to October 31, 2013.