LIC Nomura MF launches new FMP scheme

MUMBAI: LIC Nomura Mutual Fund has launched a fixed maturity plan Series 68, that aims to minimise interest rate risk by investing in a portfolio of fixed income securities, the company said in a release today.

The new fund offer, which opened for subscription today, will close tomorrow and the tenure of the scheme is 370 days.

"The objective of introducing this scheme is to seek steady returns over a fixed period, aiming to protect investors against market fluctuations," the company said.

LIC Nomura AMC is a joint venture between Japan based Nomura AMC and life insurance major, Life Insurance Corporation of India.