Publish Date:
Nippon India Mutual Fund has introduced a new scheme – Nippon India Nifty Alpha Low Volatility 30 Index Fund
It is an open-ended Index scheme replicating/ tracking Nifty Alpha Low Volatility 30 Index.
Accordingly, the investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty Alpha Low Volatility 30 Index before expenses, subject to tracking errors.
However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Under normal circumstances, Nippon India Nifty Alpha Low Volatility 30 Index Fund will hold an allocation of 95% to 100% of its assets in Securities constituting Nifty Alpha Low Volatility 30 Index and 0% to 5% of its assets in Cash & cash equivalents and Money Market instruments, Reverse repo and / or Tri-Party Repo on Government securities or Treasury bills and/or Schemes which invest predominantly in the money market securities or Liquid Schemes.
As per the Scheme Information Document, the passively managed scheme will employ an investment approach designed to track the performance of Nifty Alpha Low Volatility 30 TRI. The Scheme seeks to achieve this goal by investing in securities constituting the Nifty Alpha Low Volatility 30 Index in same proportion as in the Index to generate parallel returns. Nippon India Mutual Fund does not make any judgments about the investment merit of Nifty Alpha Low Volatility 30 Index nor will it attempt to apply any economic, financial or market analysis.
Nippon India Nifty Alpha Low Volatility 30 Index Fund’s performance will be benchmarked against Nifty Alpha Low Volatility 30 TRI.
The scheme will be managed by Mr. Mehul Dama.
The NFO opens for subscription on August 01, 2022 and closes on August 12, 2022. The schemes will reopen for continuous sale and repurchase on August 25, 2022.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 1,000 and in multiples of Re.1 thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal option.