LIC MF Banking & Financial Services Fund Direct Growth is a Equity Mutual Fund Scheme launched by LIC Mutual Fund. This scheme was introduced to investors on 27 Mar 2015. Ramnath Venkateswaran is the Current Fund Manager of LIC MF Banking & Financial Services Fund Direct Growth.The fund currently has an Asset Under Management(AUM) of ₹61 Cr and the Latest NAV as of 22 Jan 2020 is ₹12.61.
The LIC MF Banking & Financial Services Fund Direct Growth is rated High risk. Minimum SIP Investment is 1000. Minimum Lumpsum Investment is 5000. For units more than 12% of the investments, an exit load of 1% if redeemed within 12 months..
Investment Objective
The investment objective of the scheme is to generate long-term capital appreciation for unit holders from a portfolio that in invested substantially in equity and equity related securities of companies engaged in banking and financial services sector. However there can be no assurance that the investment objective of the scheme will be achieved.
Tax Implications
Returns are taxed at 15%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 10% on returns of Rs 1 lakh+ in a financial year.
Scheme Information Document(SID)
₹5000
Min for First Investment
₹500
Min for Second Investment
For units more than 12% of the investments, an exit load of 1% if redeemed within 12 months.
Exit Load