This entry is part 6 of 11 in the series Mutual Fund NFO

licLIC  launched new fund offer LIC Nomura MF Rajiv Gandhi Equity Savings Scheme Series-3(3 Years), a closed ended scheme. The NFO Opens for subscription on 16th January 2015  & closes on 30th January 2015.  No entry load will be applicable for the scheme.  

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Scheme Details

Key Scheme Feature 
Scheme NameLIC NOMURA MF RAJIV GANDHI EQUITY SAVINGS SCHEME SERIES-3
Fund HouseLIC NOMURA MF RAJIV GANDHI EQUITY SAVINGS SCHEME SERIES-3(3 YEARS)
TypeClose Ended Equity Scheme
CategoryGrowth
BenchMarkS&P BSE 100 Index
Term/Duration5,000/-& thereafter multiples of 1/- during NFO
Fund manager Sri Nobutaka Kitajima and Co-managed byShri Ramnath Venkateswaran
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Scheme NameLIC NOMURA MF RAJIV GANDHI EQUITY SAVINGS SCHEME SERIES-3
NFO Open16 Jan 2015
NFO Close30 Jan 2015
Scheme TypeClosed ended scheme
PlanRegular
Minimum Application AmountOffer of units at Rs.10 per unit during the new fund offer period
Load StructureEntry/Exit not Applicable.

Cheque Details  : “LIC NOMURA MF RAJIV GANDHI EQUITY SAVINGS SCHEME SERIES-3.”

Who can Invest

This product is suitable for investors:

  • ‘New Retail investor’ having gross income less than or equal to Rs.12 lakh in a year.
  • ‘New Retail investor’means-1)Any individual who has not open a demat account and has not made any transactions in the derivative segment as on 23-11-12. 2)Any individual who has not open a demat account before 23-11-12 but has not made any transactions in the equity segment or the derivative segment till 23-11-12. 3)Any individual who is not the first account holder of an existing joint demat account shall be deemed to have not opened a demat account for the purposes of this scheme.

Objective

::Investment Objective::

  • The primary investment objective of the Scheme is to generate capital appreciation, from a portfolio that is substantially constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Savings Scheme (RGESS). The Scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time. However, there is no assurance that the investment objective of the Scheme will be realized.
  • The objective of the Scheme is to encourage the savings of the small investors indomestic capital market.

 

Investment Process

A new retail investor shall make investments under the Scheme in
the following manner :-
(a) the new retail investor may make investment in eligible securities in one or more than one transactions during the year in which the deduction has to be claimed;

(b) the new retail investor may make any amount of investment in the demat account but the amount eligible for deduction, under the Scheme shall not exceed fifty thousand rupees;

(c) the eligible securities brought into the demat account, as declared or designated by the new retail investor, will automatically be subject to lock-in during its first year, as per the provisions of paragraph7, unless the new retail investor specifies otherwise and for such specification, the new retail investor shall submit a declaration in Form B indicating that such securities are not to be included within the above limit of investment;

(d) the new retail investor shall be eligible for a deduction under sub-section (1) of section 80CCG of the Act in respect of the actual amount invested in eligible securities , in the first financial year in respect of which a declaration in Form B has not been made, subject to the maximum investment limit of fifty thousand rupees;

(e)the new retail investor who has claimed a deduction under sub- section (1) of section 80CCG of the Act, in any assessment year, shall not be allowed any deduction under the Scheme for any subsequent assessment year; 

(f) the new retail investor shall be permitted a grace period of three trading days from the end of the financial year so that the eligible securities purchased on the last trading day of the financial year also get credited in the demat account and such securities shall be deemed to have been purchased in the financial year itself;

(g) the new retail investor may also keep securities other than the eligible securities covered under the Scheme in the demat account through which benefits under the Scheme are availed;
(h) the new retail investor can make investments in securities other than the eligible securities covered under the Scheme and such investments shall not be subject to the conditions of the Scheme nor shall they be counted for availing the benefit under the Scheme;

(i) the investment under the Scheme shall consist of all eligible securities covered under the Scheme that are initially bought by the investor under the Scheme or that are bought subsequently by the investor as per the provisions of the Scheme;

(j) the deduction claimed shall be withdrawn if the lock-in period requirements of the investment arenot complied with or any  other condition of the Scheme is violated.

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Contact Us for Investment

rajendra@puneinvest.com

Mobile 7719917444

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