Publish Date:
Nippon India Mutual Fund introduces – Nippon India Innovation Fund
It is an open-ended equity scheme investing in innovation theme
Accordingly, the investment objective of Nippon India Innovation Fund is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities of companies seeking to benefit from innovation i.e companies that invest in l innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.
Under normal circumstances, Nippon India Innovation Fund will hold an allocation of 80% to 100% of its assets in Equity and Equity related Instruments of companies adopting innovation theme and 0% to 20% in Debt & Money Market Instruments.
As per the Scheme Information Document, Nippon India Innovation Fund will predominantly invest in equity and equity related securities of companies seeking to benefit from innovation i.e companies that invest in innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors. The Fund proposes to invest in companies that seek to benefit from innovation and enhance their business and gain market share. The fund will have the flexibility to invest in a broad range of companies with an objective to maximize the returns, at the same time trying to minimize the risk by reasonable diversification.
Nippon India Innovation Fund’s performance will be benchmarked against Nifty 500 TRI
The scheme will be managed by Mr Vinay Sharma and Ms Kinjal Desai
The NFO opens for subscription on August 09, 2023 and closes on August 23, 2023. The schemes will reopen for continuous sale and repurchase on September 04, 2023.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 500/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.