Nine new mutual funds, each designed to cater to diverse investment strategies and market segments, are being launched this week. Let us have a look at these new fund offerings (NFOs)
Kotak Nifty India Tourism Index Fund
The scheme will open for subscription on September 2 and close on September 16.
Fund objective: The investment objective of the scheme is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors.
UTI Nifty Private Bank Index Fund
The scheme will open for subscription on September 2 and close on September 16
Fund objective: Investment objective of the scheme is to provide returns that, before expenses, corresponds to the total return of the securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
UTI Nifty200 Quality 30 Index Fund
The scheme will open for subscription on September 2 and close on September 16.
Fund objective: The investment objective of the scheme is to provide returns that, before expenses, corresponds to the total return of the securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
Bandhan Nifty Midcap 150 Index Fund
The scheme will open for subscription on September 3 and close on September 13.
Fund objective: The investment objective of the scheme is to replicate the Nifty Midcap 150 Index by investing in securities of the Nifty Midcap 150 Index in the same proportion/weightage with an aim to provide returns before expenses that tracks the total return of Nifty Midcap 150 Index, subject to tracking errors.
Edelweiss Nifty Bank ETF
The scheme will open for subscription on September 3 and close on September 6.
Fund objective: The investment objective of the scheme is to provide returns before expenses that correspond to the total returns of the Nifty Bank Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the Scheme will be achieved.
Invesco India Technology Fund
The scheme will open for subscription on September 3 and close on September 17.
Fund objective: The investment objective of the scheme will be to generate capital appreciation by investing in equity and equity-related instruments of companies in the technology and technology-related sectors, companies focused on driving transformative innovations across technology, automation, robotics, artificial intelligence, cloud computing, and other technology companies including those benefiting from the increased digital adoption.
Franklin India Medium to Long Duration Fund
The scheme will open for subscription on September 3 and close on September 17.
Fund objective: The investment objective of the scheme is to generate returns by investing in debt and money market instruments such that the Macaulay duration of the scheme portfolio is between 4 to 7 years. However, there can be no assurance that the investment objective of the Scheme would be achieved.
Motilal Oswal Nifty 500 Momentum 50 Index Fund
The scheme will open for subscription on September 4 and close on September 18.
Fund objective: The investment objective of the scheme is to provide returns that, before expenses, correspond to the total returns of the securities as represented by Nifty 500 Momentum 50 Total Return Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objectives of the scheme will be achieved.
HSBC India Export Opportunities Fund
The scheme will open for subscription on September 5 and close on September 19.
Fund objective: The investment objective of the scheme is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities of companies engaged in or expected to benefit from export of goods or services.
First Published: Sep 02 2024 | 5:28 PM IST
