Mutual Fund News : JM Financial Mutual Fund files offer document for JM Nifty Bank Index Fund

Publish Date:

JM Financial Mutual Fund has filed offer document with SEBI to launch an open ended scheme named 'JM Nifty Bank Index Fund'.

The investment objective of the scheme is to seek investment return that corresponds to the performance of Nifty Bank Index subject to tracking error.

The performance of the scheme will be benchmarked against Nifty Bank Index TRI.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and any amount thereafter. The scheme offers growth and dividend options.

It seeks to collect a Minimum Target Amount of Rs 10 crore.