Mutual Fund News : Nippon India Mutual Fund Introduces Nippon India Multi Asset Fund

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Nippon India Mutual Fund has launched a new open ended hybrid scheme - Nippon India Multi Asset Fund, that will invest in Equity, Debt and Exchange Traded Commodity Derivatives and Gold ETF.

Accordingly, the investment objective of the scheme is to seek long term capital growth by investing in equity and equity related securities, debt & money market instruments, and Exchange Traded Commodity Derivatives and Gold ETF as permitted by SEBI from time to time. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Under normal circumstances the scheme will invest 50% to 80% of its assets in Equity & Equity related securities (including overseas securities/ Overseas ETF), 10% to 20% in Debt & Money Market Instruments, whereas 10% to 30% of its assets in Commodities (Gold ETF and Exchange Traded Commodity Derivatives).

The scheme’s performance will be benchmarked against 50% of S&P BSE 500 index, 20% of Crisil Short Term Bond Fund Index & 30% of Thomson Reuters-MCX iCOMDEX Composite Index.

It will be managed by Mr Amit Tripathi, Mr Manish Gunwani, Mr Ashutosh Bhargava, Mr Vikram Dhawan, and Ms Kinjal Desai.

The NFO opens for subscription on August 07, 2020 and closes on August 21, 2020.

The scheme will reopen for continuous sale and repurchase from September 02, 2020.

The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).