LIC Mutual Fund Unveils New Manufacturing-Themed Equity Scheme

LIC Mutual Fund has launched a new Manufacturing Fund, an open-ended equity scheme centered on the manufacturing sector. The fund is open for subscription until October 4, with allotment on October 11. It aims for long-term capital appreciation through investments in companies following the manufacturing theme.

LIC Mutual Fund on Friday introduced a new Manufacturing Fund, an open-ended equity scheme concentrating on the manufacturing sector.

The New Fund Offer (NFO) is open for subscription until October 4, with unit allotment scheduled for October 11, according to the company. The scheme will be benchmarked against the Nifty India Manufacturing Index (Total Return Index).

R K Jha, Managing Director and CEO of LIC Mutual Fund, highlighted, ''India's robust GDP growth, rapid urbanization, growing middle-class population, and government incentives like the PLI scheme and 'Make-in-India' are fueling demand for manufactured goods.''

The conference emphasized India's potential as a global manufacturing hub and its role in the country's aspiration to be a USD 5-trillion economy by 2027. Consequently, investors in the manufacturing theme could benefit from the sector's positive outlook.

The scheme's goal is to provide a diversified portfolio of companies within the manufacturing sector, including automobiles, pharmaceuticals, chemicals, and heavy engineering, among others.

However, LIC Mutual Fund cautioned that achieving the investment objective is not guaranteed.

(With inputs from agencies.)