Stocks that are likely to be in focus are: GIC Housing Finance, LIC NOMURA MF, Concord Drugs, Jet Airways, Godrej Consumer Products, Torrent Pharmaceuticals, Wipro, Eicher Motors, Lanco Infratech, Dr Reddys Laboratories, Aurobindo Pharma, Amtek Auto, JMT Auto,IL&FS Trust Company,Housing Development Finance Corporation, Infosys, ITC, ICICI Bank.
While 40-60 percent of the fund will be invested in equity, remaining amount would go to debt and cash future arbitrage. The fund will comprise two plans - direct plan and regular plan - with each offering two sub plans, compulsory lock-in and no lock-in
The Japanese firm holds 35 percent stake in LIC Nomura MF, which had an AUM of a little over Rs 11,157 crore as of September- end, making it the 19th largest player in terms of AUM.
The government tapped Citigroup, Deutsche Bank, JM Financial, Kotak and Nomura to handle the sale of a 10 percent stake in the oil company, which at current market prices would be worth up to 95 billion rupees, added IFR, a Thomson Reuters publication.
Encouraged by tax incentives for investment in retirement schemes floated by mutual funds, several fund houses including Canara Robeco MF, LIC Nomura MF and IDBI MF have lined up plans to launch such products.
LIC Nomura MF Retirement Benefit Fund is an open ended scheme comprising of three plans - Conservative, Moderate and Dynamic.