LIC Mutual Fund has revised the benchmark index of five schemes, in accordance with the Securities and Exchange Board of India’s guidelines, the fund house said in a notice on its website.
Change in names of benchmark are as follows:
The fund house has also revised the benchmark of all its schemes to the total return variant of the respective index, the notice said.
On Jan 4, the regulator had directed fund houses to compare the performance of their schemes with the total-return variant of its benchmark index as against its current price-return variant.
The total-return variant captures the value of dividends paid out by companies, and the price-return variant captures capital gains of companies in the index.
All other features of the schemes remain unchanged. Source : moneycontrol