Description
BSE activates auto-switch facility for LIC Mutual Fund's Consumption Fund NFO, enabling automatic switching from LIC MF Overnight Fund to the new scheme.
Summary
BSE has activated the auto-switch facility for LIC Mutual Fund’s Consumption Fund New Fund Offer (NFO) on the BSE StAR MF platform. This facility allows investors to automatically switch their investments from LIC MF Overnight Fund to the new LIC MF Consumption Fund across both Regular and Direct plan growth options.
Key Points
- Auto-switch facility activated for LIC MF Consumption Fund NFO
- Available on BSE StAR MF platform
- Two subscription schemes configured:
- Regular Plan Growth: Auto-switch from LIC MF Overnight Fund Regular Plan Growth
- Direct Plan Growth: Auto-switch from LIC MF Overnight Fund Direct Plan Growth
- Transaction reporting will be done to AMC/RTA under the respective Consumption Fund plan
Regulatory Changes
No regulatory changes. This is an operational activation of an existing facility for a new mutual fund offering.
Compliance Requirements
- Market participants using BSE StAR MF platform should note the auto-switch configuration
- Subscriptions received under NFO auto-switch schemes will be reported to AMC/RTA under the corresponding LIC MF Consumption Fund plan
Important Dates
- Activation Date: October 30, 2025
- NFO period dates not specified in this circular
Impact Assessment
Limited impact restricted to investors and distributors dealing with LIC Mutual Fund schemes on BSE StAR MF platform. This is a convenience feature that streamlines the investment process for subscribers wanting to participate in the Consumption Fund NFO while temporarily parking funds in the Overnight Fund. No market-wide implications.
Impact Justification
Operational notification for mutual fund platform feature activation affecting only investors in specific LIC MF schemes