Publish Date:
Bandhan Mutual Fund introduces – Bandhan Nifty IT Index Fund
It is an open-ended equity scheme tracking Nifty IT Index
Accordingly, the investment objective of the Scheme is to replicate the Nifty IT Index by investing in securities of the Nifty IT Index in the same proportion / weightage with an aim to provide returns before expenses that tracks the total return of Nifty IT Index, subject to tracking errors. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.
Under normal circumstances, Bandhan Nifty IT Index Fund will hold an allocation of 95% to 100% of its assets in Securities belonging to the Nifty IT Index and 0% to 5% in Debt & Money Market instruments.
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As per the Scheme Information Document, Bandhan Nifty IT Index Fund will be managed passively with investments in stocks in a proportion to the weights of these stocks in the Nifty IT Index. The investment strategy would revolve around reducing the tracking error to the least possible through rebalancing of the portfolio, considering the change in weights of stocks in the index as well as the incremental collections/redemptions from the Scheme.
Bandhan Nifty IT Index Fund’s performance will be benchmarked against Nifty IT TRI
The scheme will be managed by Mr Nemish Sheth
The NFO opens for subscription on August 18, 2023 and closes on August 28, 2023. The schemes will reopen for continuous sale and repurchase within five business days from the date of allotment of units.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 1,000/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.