Bizbits

LIC Mutual Fund

MUMBAI: LIC Mutual Fund has launched its open-ended bond scheme LICMF Bond Fund8217; on March 26, 1999. The scheme was launched by G P Kohli, managing director, LIC, and chairman, Jeevan Bima Sahayog Asset Management Company Ltd on Friday. 8220;LIC Mutua Fund will endeavour to generate an attractive return by investing in a portfolio of quality debt securities and money market instruments up to 100,8221; Kohli said. Unit holders can redeem their holdings on an ongoing basis on any business day after the initial lock-in period of 90 days from the closure of initial offer. Thereis no entry load, hence units of the scheme are available at par during the initial offer period and at NAV on reopening for sales. The scheme will reopen for sale after 45 days from the closure of the initial offer.