LIC Mutual Fund has launched LIC MF Manufacturing Fund, an open-ended equity scheme following manufacturing themes.

The new fund offer or NFO of the scheme is open for subscription and will close on October 4. The units under the scheme would be allotted on October 11.

The Scheme will be managed by Yogesh Patil and Mahesh Bendre. The Scheme will be benchmarked to the Nifty India Manufacturing Index (Total Return Index).

The investment objective of the scheme is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments of companies following manufacturing themes.