This week, 9 new mutual funds are being introduced, each tailored to meet different investment strategies and market segments. Let’s look at these new fund offerings (NFOs).
Kotak Mutual Fund launched the Kotak Nifty India Tourism Index Fund opened on September 2, will be available for subscription till September 16. The fund aims to generate returns that match the total returns of the securities in the underlying index before accounting for expenses, with some allowances for tracking errors. This fund will be benchmarked against the Nifty India Tourism Index (Total Return Index) and managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.
The fund plans to invest 95-100% of its assets in stocks and related securities included in the Nifty India Tourism Index, with the remaining 0-5% allocated to debt or money market instruments.
UTI Mutual Fund launched the UTI Nifty200 Quality 30 Index Fund is an open-ended fund designed to replicate or track the Nifty200 Quality 30 TRI. It is currently open for subscription and will close on September 16. The fund is benchmarked against the Nifty200 Quality 30 TRI and managed by Sharwan Kumar Goyal.
The fund plans to invest 95-100% of its assets in stocks and related securities of companies included in the Nifty200 Quality 30 Index, with 0-5% allocated to debt and money market instruments, including tri-party repo on government securities, treasury bills, and units of liquid mutual funds.
The UTI Nifty Private Bank Index Fund is an open-ended fund that aims to replicate or track the Nifty Private Bank TRI. It is currently open for subscription and will close on September 16. The fund is benchmarked against the Nifty Private Bank TRI and is managed by Sharwan Kumar Goyal.
This fund will invest 95-100% of its assets in stocks and related securities of companies that are part of the Nifty Private Bank Index. The remaining 0-5% will be invested in debt and money market instruments.
Edelweiss Mutual Fund launched the Edelweiss Nifty Bank ETF is an open-ended exchange-traded fund (ETF) that aims to replicate or track the Nifty Bank Total Return Index. The NFO) opened on September 3 and is available till September 6. This fund will be benchmarked against the Nifty Bank TRI and will be managed by Bhavesh Jain.
The fund plans to invest 95-100% of its assets in securities included in the Nifty Bank Index, while 0-5% will be invested in money market instruments, cash, cash equivalents, or units of a liquid scheme.
Bandhan Mutual Fund launched Bandhan Nifty Midcap 150 Index Fund is an open-ended fund that tracks the Nifty Midcap 150 Index. The NFO) will be available for subscription from September 3 to September 13. This fund will be benchmarked against the Nifty Midcap 150 TRI and managed by Nemish Sheth.
The fund will invest 95-100% of its assets in securities that are part of the Nifty Midcap 150 Index, including stocks and index derivatives. The remaining 0-5% will be invested in debt and money market instruments.
Franklin Templeton Mutual Fund launched the Franklin India Medium to Long Duration Fund is an open-ended debt fund that invests in instruments with a Macaulay duration of 4 to 7 years, which means it has a higher interest rate risk and moderate credit risk. The NFO will be open for subscription from September 3 to September 17. The fund will be benchmarked against the CRISIL Medium to Long Duration Debt A-III Index and managed by Chandni Gupta and Anuj Tagra.
The fund will invest 0-100% of its assets in debt and money market instruments, cash, cash equivalents, and government securities.
Invesco Mutual Fund launched the Invesco India Technology Fund is an open-ended equity fund that focuses on investing in the technology sector and related industries. The NFO will be open for subscription from September 3 to September 17. This fund will be benchmarked against the Nifty IT TRI and managed by Hiten Jain and Aditya Khemani.
The fund plans to invest 80-100% of its assets in technology and technology-related companies, including those benefiting from increased digital adoption. It will also invest 0-20% in other equity and equity-related instruments, 0-20% in debt and money market instruments, and 0-10% in units of REITs and InvITs.
Motilal Oswal Mutual Fund launched Motilal Oswal Nifty 500 Momentum 50 Index Fund is an open-ended fund designed to replicate or track the Nifty 500 Momentum 50 Total Return Index. The NFO) will be available for subscription from September 4 to September 18. The fund will be benchmarked against the Nifty 500 Momentum 50 Total Return Index and managed by Swapnil Mayekar and Rakesh Shetty.
The fund will invest 95-100% of its assets in the securities included in the Nifty 500 Momentum 50 Index, with the remaining 0-5% allocated to units of liquid schemes and money market instruments.
HSBC Mutual Fund launched the HSBC India Export Opportunities Fund is an open-ended equity fund that focuses on companies that benefit from exporting goods or services. The NFO will be open for subscription from September 5 to September 19. The fund will be benchmarked against the Nifty 500 TRI and managed by Abhishek Gupta and Sonal Gupta.
The fund will invest 80-100% of its assets in stocks and related securities of companies engaged in exports. It will also invest 0-20% in other equities, 0-20% in debt securities and money market instruments (including cash and cash equivalents and units of liquid and overnight mutual funds), and 0-10% in units of REITs and InvITs.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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