LIC Mutual Fund has announced the launch of its LIC MF Manufacturing Fund, an open-ended equity scheme focused on the manufacturing sector. The New Fund Offer (NFO) is now open for subscription from September 20 to October 4, 2024, with units allotted on October 11, 2024. Managed by Mr. Yogesh Patil and Mr. Mahesh Bendre, the scheme aims to achieve long-term capital appreciation by investing in equity instruments related to various manufacturing industries, including automobiles, pharmaceuticals, and metals.
Mr. R K Jha, Managing Director & CEO of LIC Mutual Fund, highlighted that India’s GDP growth, urbanization, and government initiatives like ‘Make in India’ are creating a favorable environment for the manufacturing sector, positioning India as a global manufacturing hub.
In Guwahati, local investors are expected to benefit from this initiative, aligning with the region’s growing emphasis on manufacturing and economic development, fostering opportunities for portfolio diversification in a rising market.