Publish Date:
Nippon India Mutual Fund has launched an open ended fund of fund scheme - Nippon India Passive Flexicap FoF.
The scheme will be investing its assets in units of ETFs/Index Funds of Nippon India Mutual Fund.
The investment objective of the Scheme is to seek long term capital growth by investing in units of ETFs/Index Funds of Nippon India Mutual Fund. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Nippon India Passive Flexicap FoF will follow a passive investment strategy and will invest atleast 95% of its assets in Nippon India ETFs/Index Funds of Nippon India Mutual Fund, whereas upto 5% of its assets can be held in Debt and Money Market Instruments (including units of Liquid Schemes).
To achieve the investment objective, the Nippon India Passive Flexicap FoF will predominantly invest in units of ETFs/Index Funds of Nippon India Mutual Fund based on the average allocation of all active Multicap Funds in the industry into large, mid and small cap stocks as provided by CRISIL every month. The rebalancing will be done on a monthly basis. The scheme may also invest in Debt Instruments & Money Market Instruments.
Nippon India Passive Flexicap FoF will invest in any (but not exclusively) of following category of Schemes:
Nippon India Passive Flexicap FoF’s performance will be benchmarked against Nifty 500 - TRI (Total Return Index).
It will be managed by Mr Mehul Dama.
The NFO opens for subscription on December 10, 2020 and closes on closes on December 24, 2020. The scheme will reopen for continuous sale and repurchase not later than January 08, 2021.
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).