Mutual Fund News : Nippon India Mutual Fund files offer document for Nippon India ETF 5 Year Gilt

Publish Date:

Nippon India Mutual Fund has filed offer document with SEBI to launch an open-ended index exchange traded Gilt fund. The scheme will be known as ‘Nippon India ETF 5 Year Gilt’.

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 5 Yr Benchmark G-Sec Index before expenses, subject to tracking errors.

The performance of the scheme will be benchmarked against Nifty 5 Yr Benchmark G-Sec Index.

The New Fund Offer is priced at Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.

It seeks to collect a Minimum Target Amount of Rs 10 crore.