GIC Mutual Fund Overview
GIC Mutual Fund is supported financially by General Insurance Corporation of India. GIC Mutual Fund is also patronized by organizations like United India Insurance Co. Ltd. (UII), National Insurance Co. Ltd (NIC), The Oriental Insurance Co. Ltd (OIC) and The New India Assurance Co. Ltd (NIA).
Among the sponsors of GIC Mutual Fund, General Insurance Corporation of India is an undertaking of Government of India. The other four patrons of GIC Mutual Fund offer general insurance services. These companies are public sector companies.
GIC Mutual Fund has been established in the form of a Trust in accordance with the provisions laid down in the Indian Trusts Act, which was formulated in 1882. GIC Mutual Fund is also planning to introduce gilt funds and bonds.
GIC Mutual Fund Liquid Fund
In the recent times GIC Mutual Fund has brought out a liquid fund. Following are its principal characteristics:
Initial offer period is from 8th of January to 11th of January
Rs. 25,000 is the minimum limit
Aimed at catering to the financial requirements of corporate sector and individuals with high net worth
Extra investments could be made in multiples of Rs 10,000 each
Investments in debt instruments that have shorter terms
The upper limit of the dividend re-investment scheme is Rs. 5 lakh
Provisions of income and growth choices
GIC Mutual Fund Plans
GIC Mutual Fund has also brought out the following mutual fund plans:
GIC Mutual Fund Liquid Fund Growth Fund
GIC Mutual Fund Debt Fund Dividend Plan
GIC Mutual Fund Gilt Fund Growth Plan
GIC Mutual Fund Debt Fund Growth Plan
GIC Mutual Fund Liquid Fund Dividend Reinvestment Plan
GIC Mutual Fund Gilt Fund Dividend Plan
According to recent news, CANBANK Investment Management Services Ltd. (CIMS) has almost completed a contractual agreement to buy GIC Mutual Fund.
Mutual Funds Investment
Last Updated on : 27th June 2013