LIC Top 100

LIC Mutual Fund has launched a new closed ended fund called LIC Top 100. The primary investment objective of the scheme is to seek capital appreciation by investing in equity and equity related instruments from the universe of CNX 100 index.

It will turn into an open ended fund after 36 months. This is a good where diversification of the investments will happen.

CNX 100 is constituted by taking 50 stocks of Nifty and 50 stocks of Jr Nifty.
Captures mid-cap,small-cap as well as large cap stocks. These companies represent 22 broad sectors lending support to our economy i.e. Auto, Banks & Financial services, Cement, Power, Metal (ferrous & non-ferrous), Pharma, IT, Telecom, Construction, FMCG, Capital goods, Forging, Hotel, Logistics, Oil & Gas, Petrochemical & Refineries, Textiles etc.

Market Capitalization of CNX 100 represents 62.4% of the total traded Market Capitalization.


The scheme will have an exposure between 80-100% in Equity and equity related securities of CNX 100 while 0-20% will be invested in Money Market Instruments / Debt (including securitized debt).

Scheme Details
Issue Opens: November 15, 2007
Issue Closes: December 14, 2007
Options : Dividend and Growth
Fund Category: Closed-end (will become open ended after 36 months), Equity Scheme
Minimum Investment: Rs 5000 and Rs 1 for additional purchases
Entry Load: During New Fund Offer Period there will be no entry load as close ended schemes are not permitted to charge entry load
Exit Load : Units will be redeemed only after recovering the balance unamortised expenses
Liquidity : Investors can repurchase their investments once in a week during close-ended period and on all business days after the scheme becomes open-ended.