LIC Mutual Fund on Friday launched a new Manufacturing Fund, an open-ended equity scheme, and said it is looking to achieve an asset under management of Rs 60,000 crore this fiscal.

Franklin Templeton, a global asset management firm with $1.5 trillion AUM, plans to launch a mutual fund on the Solana blockchain.

The new fund offer (NFO) will remain open for subscription till October 4 while the units under the scheme would be allotted on October 11, the company said. It also said that the scheme will be benchmarked to the Nifty India Manufacturing Index (Total Return Index).

The scheme aims to provide a diversified portfolio of companies that come under the ambit of manufacturing theme, including automobiles, pharmaceuticals, chemicals, heavy engineering products, metals,

LIC Mutual Fund has launched a new Manufacturing Fund, an open-ended equity scheme, with a target AUM of Rs 60,000 crore by fiscal-end. The NFO is open till October 4 and the scheme aims to provide a diversified portfolio of companies in the manufacturing sector.