LIC Mutual Fund has introduced a Multi Asset Allocation Fund, an open-ended scheme designed to invest in a mix of equity, debt, and gold, aiming for long-term capital growth.
The New Fund Offer (NFO) is open from January 24 to February 7, with regular transactions starting from February 18. The fund’s performance will be measured against a blended benchmark of 65% Nifty 500 TRI, 25% Nifty Composite Debt Index, and 10% domestic gold prices.
R.K. Jha, MD & CEO of LIC Mutual Fund, highlighted the rising popularity of hybrid funds, noting a 27% growth in assets under management in 2024, as per AMFI data. "With increasing interest in hybrid investments, this fund offers the right balance for today’s investors," he said.