Tata Nifty Financial Services Index Fund, launched by Tata Mutual Fund, is an open-ended index fund that aims to mirror the performance of the Nifty Financial Services Index (TRI). The scheme doesn’t guarantee returns but seeks to deliver results similar to the index, with a minimal tracking error. There is no entry load, but an exit load of 0.25% applies if redeemed within 15 days of allotment. The minimum investment amount is Rs 5,000. The new fund offering is open for subscription from April 8th, 2024, to April 22nd, 2024.
The investment objective of the Tata Nifty Financial Services Index Fund is to provide returns, before expenses, that commensurate with the performance of Nifty Financial Services Index (TRI), subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme does not assure or guarantee any returns.
This NFO of Tata Nifty Financial Services Index Fund is suitable for investors who are seeking long-term capital appreciation and Investment in equity and equity-related instruments comprised in the Nifty Financial Services Index. Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
| Investments | Indicative Allocation | Risk Profile |
| Securities covered by Nifty Financial Services
Index |
Minimum 95% – Maximum 100% | Very high |
| Debt & Money Market Instruments including units of Mutual Funds | Minimum 0% – Maximum 5% | Low |
The performance of the Tata Nifty Financial Services Index Fund is benchmarked against the NIFTY Financial Services Index (TRI).
Kapil Menon, a 41-year-old B. Com graduate, boasts an extensive tenure in the finance industry, particularly with Tata Asset Management Pvt Ltd. He commenced his journey with Tata in September 2006, steadily progressing from Senior Manager of investments to his current role as Dealer, where he has served since June 2021. In his current capacity, he reports directly to the Chief Investment Officer – Equities (The scheme is new disclosure regarding the tenure of the fund manager is not applicable)
| Scheme Name | Launch Date | AUM (Rs Crore) | Expense Ratio (%) | Returns as on – 05-04-2024 in % | ||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||||
| Kotak Nifty Financial Services Ex-Bank Index Fund Reg Gr | 14-08-2023 | 14.98 | 0.88 | 6.59 | – | – | – | – |
| Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund Reg Gr | 29-07-2022 | 11.24 | 1.01 | 7.99 | 31.5 | – | – | – |
| Index Fund | – | – | – | 5.42 | 21.46 | 1.91 | 27.96 | 15.29 |
| Mirae Asset Nifty Financial Services ETF | 30-07-2021 | 229.57 | 0.12 | 0.34 | 14.26 | 10.34 | – | – |
| ICICI Pru Nifty Financial Services Ex-Bank ETF | 25-11-2022 | 74.48 | 0.2 | 6.91 | 32.46 | – | – | – |
| ETFs | – | – | – | 3.36 | 20.91 | 3.44 | 21.68 | 13.63 |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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