Thursday, January 24, 2019
News

LIC Mutual Fund's Short Term Debt Fund offer opens

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Friday, 2019 4:45:05 PM IST
State-run LIC Mutual Fund on Friday launched an open-ended short-term debt fund scheme for investing in instruments of "Macaulay duration" between one and three years as a new fund offer (NFO) called "LIC MF Short Term Debt Fund" that will close on January 25.

In a statement here, the company said that investors can make a lump sum investment in the fund being managed by Yogesh Patil (Equity) and Marzban Irani (Debt).

"The investment objective of the scheme is to generate income returns commensurate with risk from a portfolio constituted of debt securities and/or money market instruments," it said.

"However, there can be no assurance that the investment objective of the scheme will be achieved."

The Macaulay duration signifies the formula used by portfolio managers of the weighted average term-to-maturity of the cash flows from a bond.

According to the statement, the fund manager will use a disciplined quantitative analysis while accessing the short-term debt opportunity and will invest in those debt securities that are rated investment grade by credit rating agencies, or in unrated debt securities.

The Life Insurance Corp (LIC) associate company said the fund is beneficial for investors who are looking for reasonable returns over short- to medium-term, as well as investment in debt securities and money market instruments with a Macaulay duration between one and three years.

--IANS bc/mag/sed

( 235 Words)

2019-01-11-16:16:51 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
iKeva to open 15 new co-working centres...
CBI files FIR against Chanda Kochhar's h...
1 bn gaming tweets recorded in 2018: Twi...
80% Indian employees think their workpla...
LG to showcase its 5G smartphone at MWC...
Relief package for farmers soon: Ministe...
More...
 
INDIA WORLD ASIA
Odisha CM writes to Railways Min demandi...
Pleasant Thursday morning in Delhi...
Snatch voting rights, govt jobs of peopl...
Nitin Gadkari attacks Congress for faili...
Mallikarjun Kharge to lead Maharashtra C...
PESO official caught by CBI for taking b...
More...    
 
 Top Stories
UP illegal sand mining: ED register... 
Former Congress leader joins Sajad ... 
Smriti stars in India's 9-wkt win o... 
Ghosn resigns as Renault President... 
Nepal official launches mission to ... 
Curfew in Odisha town following gro... 
PCB decries Sarfraz's racial slur... 
Neymar suffers recurrence of fifth ...