LIC Nomura Mutual Fund has rolled out the LIC Nomura MF Fixed Maturity Plan Series 48, Money Guru India reports. The fund’s investment objective is to reduce interest rate risk by investing in a fixed income securities portfolio.

The close-ended income scheme, which will be benchmarked against the CRISIL Short Term Bond Fund Index, will allocate up to 100% of assets in debt and money market instruments. YD Prasanna has been appointed as the fund’s manager.

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