Mutual Fund News : L&T Mutual Fund launches L&T Nifty 50 Index Fund

Publish Date:

L&T Mutual Fund has launched ‘L&T Nifty 50 Index Fund’, a passively managed open ended equity scheme tracking the Nifty 50 Index.

The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the Nifty 50 index in the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of Nifty 50 index by minimizing the performance difference between the benchmark index and the scheme. The Total Returns Index is an index that reflects the returns on the index from index gain/ loss plus dividend payments by the constituent stocks. There is no assurance that the investment objective of the Scheme will be realized.

The performance of the fund will be benchmarked against Nifty 50 Index TRI (Total Return Index).

The fund will be managed by Mr Praveen Ayathan.

The NFO opens for subscription on March 24, 2020 and closes on March 31, 2020.

The New Fund Offer is priced at Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000.

The scheme offers Regular Plan and Direct Plan having Growth Option, Dividend Payout, and Dividend Re-Investment Option.